Federal Reserve

The Federal Reserve, often called the Fed, is the central bank of the United States. It was established in 1913 to oversee the country's monetary policy, which includes managing interest rates and regulating the money supply. Its main goals are to promote maximum employment, stable prices, and moderate long-term interest rates. The Fed also supervises banks to ensure the stability of the financial system and acts as a lender of last resort during financial crises. Essentially, the Federal Reserve plays a crucial role in maintaining economic stability and fostering a healthy economy.