Feedback and response

1. The Federal Reserve is an organization created by Congress, under the Federal Reserve Act. It has the power to change the total amount of reserves and operates through open market operations. The Federal Reserve increases or decreases the amount of money supplied and sets the discount rate in order to stimulate or slow the economy. It was created to establish a central bank for the United States with an original mission of enhancing the stability of the American banking system. Congress later added on the mission to stimulate the economy