Federal Reserve Essay Example | Topics and Well Written Essays - 1250 words

Federal Reserve - Essay Example The Board of Governors is appointed by the President who controls the functions of the Federal Reserve System. There are Federal Reserve Banks which operates in major cities of US. The major objectives of the Federal Reserve System are aimed at the welfare of the US economy. The Federal Reserve System in US is responsible for maximizing the employment opportunities in US, stabilizing the prices in US economy and achieving stability in long term interest rates (Wells 58). The monetary policy is designed by the Federal Reserve System of US. The other functions of the central banking system in US include regulation of the banking structure that includes the government and the private players as well as the advisory councils. The central bank also provides financial services to other depository agencies. The overall financial stability of the economy of US is the responsibility of the Federal Reserve System. Before the Federal Reserve System was set up in 1913, there were around 30000 cu rrencies in the economy of US. Many business houses and even the drug dealers could issue currency notes for financial transactions. This created a situation of instability in the economy of US. ... Apart from this, the various currencies in US had different denominations and values. The absence of a standardized currency created difference and problems among the traders. The business, imports and exports all suffered due to the presence of varying numbers of currencies and absences of standardized form of currency in the economy of US. The Federal Reserve System of the US was created to standardize the currency of the economy of US and thereby establish a position of stability in the economy (Grey 98). The Federal Reserve System provides a central banking system to the economy of US where the business and he individuals could deposit their money in the standard currency of US dollar. The depositors could also withdraw their money from the Federal Reserve System at the time of need. These withdrawals took place in the same standardized currency of US dollars. Thus the Federal Reserve System could drive away the intermediate currencies and their varying values and established a s tandardized form of currency to be followed by the customers and traders in order provide an organized monetary system and sufficiency in liquidity. The US economy invariably needs the Federal Reserve System in the economy without whose functions there would be ample distortions in the economy that would hamper the economic growth of US. This could be understood from the roles and responsibilities of the Federal Reserve System and the implication on the US financial and economic system in absence of its role. The Federal Reserve System plays the role of balancing between the centralized role of the government for the welfare of the economy and the private interests of the

An implantable cardiac pacemaker Essay Example | Topics and Well Written Essays - 2500 words

An implantable cardiac pacemaker - Essay Example The straining of the heart causes further damage to the heart muscles and this may eventually lead to complete wearing out of the heart. It is imperative to note that this condition is serious medical problem that may be caused by diseases that cause damage to the heart such as coronary heart disease and high blood pressure. The cardiac pacemaker is a device that can be used to treat heart failure by assisting the heart to perform its function of pumping blood to the body (Forde & Pat, p. 1263). The device is placed in the chest of the person who has the problem of heart failure and it delivers controlled and systematic electric stimulus to maintain normal heartbeat. Notably, the cardiac pacemaker monitors the hear beat of a person ensures that the heart rate is normal. This device plays a vital role of ensuring that the affected person does not succumb to heart failure by ensuring that the heart pumps blood at the desired rate. For instance, if the heart begins to slow down in its p umping process, the cardiac pacemaker sends an electric stimulus to the heart to initiate normal pumping. Once the heart regains the desired pumping rate, the cardiac pacemaker takes a back seat and continues monitoring the heart rate for any anomalies. According to (Beck et al 812), approximately a third of the people with heart failures have problems with the transmission of electrical impulses to the ventricles of the heart. This means that the cardiac pacemaker can help to deliver the required electrical stimulus in order to synchronize the pumping of blood by both the ventricles of the heart in the appropriate manner. Cardiac pacemaker devices are important especially for people who experience moderate and occasional severe heart failures. This device can help to avert the dangers associated with abnormal pumping of blood by the heart and thus save millions of lives. Also, people with persistent heart failures despite taking the requisite medications can use cardiac pacemakers. In such cases, the cardiac pacemaker can be implanted permanently on the chest of the affected person whereby it manages the heart failure condition by monitoring the heart rate and intervening whenever necessary (Bazaka & Mohan, p. 14). This device also has therapeutic functions for people who have weak heart muscles that cannot function normally. The first ever electronic device to be implanted into a human body was the cardiac pacemaker. In 1958, the first cardiac pacemaker designed and produced by Dr. Rune Elmqvist was implanted on a patient who was suffering from severe Gerbezius-Adam’s-Stokes attacks (Beck et al 811, Haddad et al., p. 40). This pioneering device was powered by rechargeable batteries and it only had one silicon transistor. Notably, the first cardiac pacemaker worked only for a few hours before it had to be replaced by a second similar device. Before the implanted cardiac device was designed, early scientists had produced an external pacemaker which work ed successfully in the provision of temporary cardiac therapy. The external pacemaker was a cumbersome and heavy device which could not be easily carried around by the patients (Haddad et al., p. 42). Advances in biomedical engineering and the discovery of silicon transistors made it possible for scientists to produce a lighter and portable pacemaker. According to Bazaka and Mohan, these pacemakers were externally carried by the