National Government

The strength and stability of the UK economy can have a number of effects on Sheffield Hallam including levels of government funding, student numbers and prospects for graduates. The UK economy is currently in a stable position with the Labour party claiming the country to have its lowest level of inflation since the 1960's, raising by just 1. 3% in 2003, Lower unemployment in Britain than at any time for the last 25 years - lower than Japan, America and the Euro area. As well as the lowest interest rates since the 1950's.

Functions of the U.S. Federal Reserve

The Federal Reserve System (the Fed) is the central bank of the United States which was founded by Congress in 1913. Its primary responsibilities are conducting the nation's monetary policy; supervising and regulating banking institutions and protecting the credit rights of consumers; maintaining the stability of the financial system; and providing certain financial services to the U. S. government, the public, financial institutions, and foreign official institutions (www. federalreserve. gov).