Federal Reserve

Central banking system of the US

The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the American monetary system. Although an instrument of the U.S. government, the Federal Reserve System is considered an independent central bank due to its structural insulation from political interference.

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