Federal Reserve
Also known as: Federal Reserve · Fed · The Fed · FRS
- 1The Federal Reserve was created on December 23, 1913.
- 2The Federal Reserve Act provided the legal basis for the system.
- 3It is designed with structural insulation to remain independent from political influence.
- 4The institution's remit expanded following the Great Depression and the Great Recession.
The Federal Reserve System is the central banking system of the United States.
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the institution responsible for managing the U.S. money supply
The Federal Reserve acts as the central bank of the United States, utilizing various policy tools to influence the money supply and achieve macroeconomic objectives like price stability.
primary institution criticized by monetarists for its historical policy...
Monetarists frequently analyze the Federal Reserve's actions, particularly during the 1930s, as a case study for the dangers of improper monetary management.
The Federal Reserve System serves as the central banking system of the United States. It was established on December 23, 1913, following the passage of the Federal Reserve Act, which was prompted by a series of severe financial panics that highlighted the need for centralized control over the American monetary system.
Lead image from the Wikimedia REST summary for Federal Reserve.Wikimedia contributors: Federal Reserve Although it functions as an instrument of the U.S. government, the Federal Reserve maintains structural insulation from political interference to ensure its independence. Over the course of the 20th and 21st centuries, major crises such as the Great Depression and the Great Recession have significantly expanded the scope and responsibilities of the institution.