Federal Reserve System Power and Structure
The Federal Reserve Bank controls money supply and influences interest rates, shaping loans for farmers and consumers. It operates independently since 1914 with a seven member Board of Governors and 12 regional banks, including New York and San Francisco, overseen by the president appointment. The Fed’s four main functions include monetary control, bank supervision, government fiscal services, and public banking services through depository institutions.
MENTIONED IN THIS ARTICLE
Federal Reserve Bank
Congress
Fed
Washington
Boston
New York
Philadelphia
Richmond
Atlanta
Cleveland
Chicago
E. Louis
Minneapolis
Kansas City
Kan
Dallas
San Francisco
Arizona
Federal Reserve System
Federal Open Market Committee
New York Fed
Treasury
Markets surge as Fed raises rates amid slower hiring plan
Wall Street rallied after the Fed's move to tighten credit, lifting the Dow by 49 points and pushing the 30-year Treasury yield down to about 7.26 percent. Analysts say CD rates will rise, while President Clinton warns against excessive restraint. Experts urge clarity on the neutral rate as long-term yields edge higher. Foreclosures rise in Arizona and mortgage qualification tightens, with impact on home sales and construction. Tuesday's action marks the first discount-rate hike since February 1989.
MENTIONED IN THIS ARTICLE
Wall Street
U.S. Treasury
Robert Heady
Bank Rate Monitor
Heady
Fed
Clinton
Federal Reserve
Alan Greenspan
Tommy Thompson
National Association of Home Builders
Thompson
Owensboro
Federal Home Loan Mortgage Corp
Cordes Q
Senate Budget Committee
Jim Sasser
D-Tenn
Fed raises two key rates to curb future inflation
Economics professors explain the Fed's move raising the discount rate from 3.0 to 3.5 percent and the federal funds target from 3.75 to 4.25 percent. Banks boost prime rates. consumers face higher loan costs. They note signals like capacity use and unemployment as inflation indicators and warn of slower growth but steady expansion.
MENTIONED IN THIS ARTICLE
Robert Carpenter
Emory University
Atlanta
Joseph Cordes
George Washington University
Washington
Federal Reserve Board
Federal Reserve
Federal Funds
Fed
Columbia U
Patchy oversight leaves Mesa halfway houses unlisted
A patchwork of agencies provides minimal oversight for Mesa halfway houses, with no city or state registry. Police note growing numbers and recent crimes by residents, including Maxwell and Gatlin, underscoring gaps as state lists are incomplete and Mesa lacks licensing for such boarding homes.
MENTIONED IN THIS ARTICLE
Mesa
Lloyd
Joseph Bruce Maxwell
Chandler
Maxwell
Disciples House
van Michael Gatlin
Gatlin’s
Freedom House
East Mesa
Mary
Kennedy
Gordon Sheffield
Arizona Department of Health Services
Office of Behavioral Health Licensure
Arizona Eut of Corrections
Behavioral Health
Department of Corrections
Carl Nink
Assis Community Corrections
Adoption dispute over Arizona children placed with Arkansas family
The suit names Adoption Care Center and directors Danielle and Michael Gagnier as defendants. It alleges the center arranged the move of Martinez's children to Arkansas without his consent, seeks unspecified damages for emotional and financial losses, and accuses the agency of avoiding Arizona law to ease the adoption. Martinez, a Scottsdale horse groomer, says he did not know of the adoption and fought to regain custody. Tammy Jo Roush, from Arkansas, speaks to the emotional toll of the case.
MENTIONED IN THIS ARTICLE
Edwards
Arkansas
Arizona
Tammy Jo Roush
Biscoe, Ark
Martinez
Tom Chauncey Desert Arabians
Scottsdale
Rosa Maria Cardiel
Mesa
Roushes
Also Mentioned on This Page
U.S
Stowe, VI
Shattuck
Associated Press
Tucson
Halfway House
Ivan Guess
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