Federal Reserve Banks

Federal Reserve Banks are the central banking system of the United States, established in 1913 to provide stability to the financial system. There are 12 regional Federal Reserve Banks across the country, which serve as the operational arm of the Federal Reserve. They manage monetary policy by influencing interest rates, regulate banks to ensure safety and soundness, and provide financial services to the government and other banks. The Federal Reserve aims to promote maximum employment, stable prices, and moderate long-term interest rates, playing a crucial role in the economy.