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The Federal Reserve: Most Influential Banks In The World

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The Federal Reserve remains one of the most influential banks in the world. In all the daily world transactions the U.S dollar accounts for more than 90 %. The currency valuation of many countries remains heavily dependent on the Federal Reserve System. The Federal Open Market Committee (FOMC) is the main branch under the Fed. Its main function is the determination of interest. It has a total number of 19 members; seven of them act as governors while twelve act as district reserve presidents. Their main function lies within ensuring a long term and sustainable growth.

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