|The primary responsibility of the Board members is the formulation of monetary
policy. The seven Board members constitute a majority of the 12-member
Federal Open Market Committee (FOMC),
the group that makes the key decisions affecting the cost and availability of
money and credit in the economy.
The Federal Reserve Board launched a new kids web page designed to educate
middle school students about the Board of Governors of the Federal Reserve
System. The new web page is designed in a user-friendly, question-and-answer
format to ensure easy navigation and the ability to learn basic information
about the Fed.
The new web page (www.federalreserve.gov/kids/)
features information about the history, structure, and primary functions of the
Federal Reserve; the Chairman of the Board of Governors; and the structure of
Federal Open Market Committee. Other highlights include a kids quiz and links to
other valuable resources on the Federal Reserve Board's web site.
"The Federal Reserve has a long history of promoting economic education and
financial literacy. This new web page provides younger students with a basic
approach to the complexities of the Federal Reserve that is both enjoyable and
interesting," said Federal Reserve Board Governor Mark Olson.