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The Board of Governors and the Government Performance and Results Act

The Government Performance and Results Act (GPRA) of 1993 requires that federal agencies, in consultation with Congress and outside stakeholders, prepare a strategic plan covering a multiyear period and submit an annual performance plan and performance report. Although the Federal Reserve is not covered by the GPRA, the Board of Governors voluntarily complies with the spirit of the act.

Strategic Plan, Performance Plan, and Performance Report

The Board's strategic plan articulates the Board's mission, sets forth major goals, outlines strategies for achieving those goals, and discusses the environment and other factors that could affect their achievement. It also addresses issues that cross agency jurisdictional lines, identifies key quantitative measures of performance, and discusses the evaluation of performance. The most recent strategic plan covers the period 2008-2011.

Both the performance plan and the performance report are prepared every two years. The performance plan includes specific targets for some of the performance measures identified in the strategic plan and describes the operational processes and resources needed to meet those targets. It also discusses validation of data and verification of results. The most recent performance plan covers the period 2008-09.

The performance report discusses the Board's performance in relation to its goals. The most recent performance report covers the period 2006-07.

The strategic plan, performance plan, and performance report are available on the Board's website, at www.federalreserve.gov/boarddocs/rptcongress. The Board's mission statement and a summary of the Federal Reserve's goals and objectives, as set forth in the most recently released strategic and performance plans, are listed below. Updated documents will be posted on the website as they are completed.

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Mission

The mission of the Board is to foster the stability, integrity, and efficiency of the nation's monetary, financial, and payment systems to promote optimal macroeconomic performance.

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Goals and Objectives

The Federal Reserve has six primary goals with interrelated and mutually reinforcing elements.

Goal

Conduct monetary policy that promotes the achievement of the statutory objectives of maximum employment and stable prices.

Objectives

Goal

Promote a safe, sound, competitive, and accessible banking system and stable financial markets.

Objectives

Goal

Develop regulations, policies, and programs designed to inform and protect consumers, to enforce federal consumer protection laws, to strengthen market competition, and to promote access to banking services in historically underserved markets.

Objectives

Goal

Provide high-quality professional oversight of Reserve Banks.

Objective

Goal

Foster the integrity, efficiency, and accessibility of U.S. payment and settlement systems.

Objectives

Goal

Foster the integrity, efficiency, and effectiveness of Board programs.

Objectives

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