LAW6923

The purpose of this two-credit course is to provide an enhanced understanding of the Federal Reserve System and its key roles as the U.S. Central Bank. The course will cover legal underpinnings of the Fed’s core responsibilities in monetary policy, supervision and regulation, financial services, and financial stability.The course focus will include detailed review and understanding of the Federal Reserve Act, the Dodd-Frank Act and other key legislation, Fed actions in response to the 2008 Crisis and the 2020 Pandemic, along with contemporary policy and legal perspectives on the Fed's mission areas that affect the United States economy, payments systems, and supervision of financial institutions. Students will understand the nature and extent of Federal Reserve System authority, both as originally conceived and as this authority evolved through the 109 years of the Federal Reserve's existence.