Business

The big boss.
by Zuzana Valkova

I always liked that idea in old movies, when people were hiding their money in socks or under their bed. It was so cute. They were always worried about it. These days everybody knows, that this is not the safest way how to protect your money. We have many possibilities where to put it - we have so many banks to choose. Especially in the country big like the US. There are tons of banks. Like in every other country, they have to have a special system how to coordinate these banks and protect people. In the US is this system called Federal Reserve System. It's something like a central bank of the US. It has many functions, like fighting (of course in a special financial way) against financial crisis, strike the "gap" or difference between private banks and parts of government, which take care of money, regulate this private institutions. This system also represents the US in the world economics markets, and provide financial services for the government. Very important part of its functions is managing of nation's monetary supply and high employment, stable prices in the whole county and of course it manage interest rates. Right now they are discussing about this rates, maybe they will be able to put these rates on lower level at the end, so they can take at least 0.5 off. All this because the Federal Reserve System, called also FED, is trying to help their slow economics. The meeting should be done on Wednesday. So we will see how it will end.

related story: http://news.yahoo.com/s/ap/20080129/ap_on_go_ot/fed_interest_rates;_ylt=Ajb7OLpCv57qQJpNgaWuPJas0NUE

by Zuzana Valkova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

posted by Blog TechSource @ 1:42 PM