Central Banking - The organisation of the FED and their politics within the last years (esp. in comparison to the ESCB)

Seminar paper from the year 2003 in the subject Business economics - Investment and Finance, grade: 1,3 (A), Stralsund University of Applied Sciences (Economics), language: English, abstract: The following essay with the title "Central Banking - The organisation of the Fed andtheir politics within the last years (esp. in comparison to the ESCB)" is part of the finalexamination of the course International and Baltic Finance at the University of AppliedSciences Stralsund.This paper will explain central banking in general and than have a closer look on theU.S. Federal Reserve System. After that it will have a look on the European System ofCentral Banks, continuing with comparing the two systems, looking for the similaritiesand differences.During my research I read quiet a lot of books and articles and after some time I reallygot interested in the topic. I really wanted to know how all this central banking works,and what kind of system (the American or the European) is the better one. But I alsorecognised that there are of course plenty of books, dealing with this topic, buteverybody seems to have a different opinion, of what is better, what suits the societybest. So while writing this essay, I tried to give back what I found interesting and whatseems to be the opinion of several people.Unfortunately I could not stick to the required 3000 words, because my topic was socomplex and wide, that it forced me to write some more words on it.