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The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907)
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See moreThe primary declared motivation for creating the Federal Reserve System was to address banking panics. Other purposes are stated in the Federal Reserve Act, such as "to furnish an elastic currency, to afford means of rediscounting
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See moreThe term "monetary policy" refers to the actions undertaken by a central bank, such as the Federal Reserve, to influence the availability and cost of money and credit to help promote national
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See moreCentral banking in the United States, 1791–1913
The first attempt at a national currency was during the...
See moreThe Federal Reserve System has a "unique structure that is both public and private" and is described as "independent within the government" rather than "independent of government".
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See moreThe Federal Reserve records and publishes large amounts of data. A few websites where data is published are at the board of governors' Economic Data and Research page, the
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See moreThe Federal Reserve System has faced various criticisms since its inception in 1913. Criticisms include lack of transparency,
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