Advanced English Dialogue for Business – Federal reserve board

Listen to a Business English Dialogue About Federal reserve board

Caroline: Hi Layla, have you heard about the Federal Reserve Board in business and finance?

Layla: Yes, I have. It’s an important organization that oversees monetary policy in the United States.

Caroline: That’s right. The Federal Reserve Board makes decisions about interest rates and manages the country’s money supply.

Layla: How does the Federal Reserve Board influence the economy?

Caroline: The board can adjust interest rates to stimulate or slow down economic activity, depending on the state of the economy.

Layla: Are there different branches of the Federal Reserve across the country?

Caroline: Yes, the Federal Reserve System includes 12 regional banks located in major cities across the United States.

Layla: What role do these regional banks play?

Caroline: The regional banks collect data on economic conditions in their respective regions and provide input to the Federal Reserve Board in making monetary policy decisions.

Layla: How is the Federal Reserve Board structured?

Caroline: The board consists of seven members, including the chair and vice chair, who are appointed by the President and confirmed by the Senate.

Layla: Are there any limitations on the Federal Reserve Board’s power?

Caroline: The board operates independently within the government but is subject to oversight by Congress and must report regularly on its activities.

Layla: Thanks for explaining, Caroline. The Federal Reserve Board seems like a crucial institution for managing the economy.

Caroline: No problem, Layla. It plays a vital role in ensuring stable economic growth and low inflation.