The central banking system of the United States, responsible for monetary policy, financial stability, and regulation of financial institutions.
Description: The Federal Reserve System (often called the Fed) is the central bank of the United States, established in 1913 by the Federal Reserve Act. Its primary functions include conducting monetary policy to promote maximum employment and stable prices, supervising and regulating banks to ensure safety and soundness, maintaining financial system stability, and providing financial services to depository institutions and the federal government. The Fed consists of the Board of Governors in Washington, D.C., and 12 regional Federal Reserve Banks. It operates independently within the government but is subject to oversight by Congress. The Fed's decisions on interest rates and money supply significantly impact the U.S. economy and global financial markets.
