The Federal Reserve System is the central bank of the United States from "summary" of Economics of Money, Banking and Financial Markets, Business School by Frederic S. Mishkin
The Federal Reserve System plays a crucial role in the United States economy by serving as the country's central bank. As the central bank, the Federal Reserve is responsible for overseeing the nation's monetary policy and regulating the banking system. By controlling the money supply and interest rates, the Federal Reserve aims to promote economic stability and growth. One of the primary functions of the Federal Reserve is to regulate the banking industry. The Federal Reserve establishes and enforces regulations to ensure the safety and soundness of banks operating in the United States. This oversight helps to maintain the stability of the financial system and protect consumers' deposits. In addition to regulating banks, the Federa...
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