Fed
The Fed, or Federal Reserve, is the central banking system of the United States. It is responsible for setting and implementing monetary policy, regulating banks, and providing financial services to the public. The Fed is composed of 12 regional Federal Reserve Banks, each of which is responsible for a particular region of the country. The Federal Reserve Board of Governors is the governing body of the Federal Reserve System, and is responsible for setting monetary policy and overseeing the operations of the Federal Reserve Banks.
History of the Fed
The Federal Reserve System was created in 1913 with the passage of the Federal Reserve Act. The Act established the Federal Reserve System as the central banking system of the United States, and gave it the authority to issue currency, regulate the money supply, and set interest rates. The Federal Reserve System was designed to provide a more stable and secure financial system, and to help prevent financial crises. Since its creation, the Fed has played an important role in the U.S. economy, and has been instrumental in helping to stabilize the economy during times of crisis.
Comparison Table
Year | Interest Rate |
---|---|
2020 | 0.25% |
2019 | 2.50% |
2018 | 2.25% |
2017 | 1.50% |
Summary
The Federal Reserve System is the central banking system of the United States, and is responsible for setting and implementing monetary policy, regulating banks, and providing financial services to the public. The Fed has played an important role in the U.S. economy, and has been instrumental in helping to stabilize the economy during times of crisis. For more information about the Fed, visit the Federal Reserve website or the websites of the 12 regional Federal Reserve Banks.
See Also
- Monetary Policy
- Interest Rates
- Money Supply
- Federal Reserve Banks
- Federal Reserve Board of Governors
- Financial Crisis
- Banking Regulation
- Financial Services
- Currency
- Economy