Federal Reserve: Rights must or money bust?

Jason Wang, Alan Luo, Mohammad Rashad Junior Division Group Website

Process Paper
Why we chose this topic: On television, during the summer, there was a lot of talk about financial crisis on the news. There was a lot of stuff on the news about Americas trillions of dollars in debts. Our group was interested on why these rises and falls in the economy occur and who controls our tax money. We did some research online about what is the main source of economy control and we found that the Federal Reserve makes most of the decisions on different monetary policies and controls interest rates for mortgage and banking accounts etc. The influence of the Federal Reserve on America was pretty interesting, so we decided to do our NHD project on the Fed. How we conducted our research: On history gateway, we would search for any primary sources like documents or newspapers from the time. We wanted to look for anything from 1913 that would explain how the Federal Reserve Act was written and passed through Congress. We found a few of these primary sources. We would use these to see if the secondary sources we found were reliable. After we found enough primary sources, then we would look for interviews from Federal Reserve Board Members or the chairman. Then we would find secondary sources for more information. How we chose our media and developed it: We chose a website because we have a programmer in our group. We thought that we could use this to our advantage to make a better project. We could easily write our own pages to work on our website and we dont have to meet every day to work on it. We would use each others research to write our website pages. This would make working on our project much more efficient and easier.

Relation to Rights and Responsibilities: The Federal Reserve System gives many Americans economic rights and freedoms like a free enterprise economy. A healthy economy and stable money funds are rights that Americans should have and the responsibilities of the Federal Reserve. Without the Fed, our economy would be like before the Federal Reserve Act: overrun with banking panics and unorganized currencies. The Fed gives American Citizens the right to a better and healthy economy by completing all of its responsibilities.