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Federal Reserve

@federalreserve.gov

The Federal Reserve Board of Governors in Washington DC.

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The Federal Reserve, often referred to as the Fed, is the central banking system of the United States. It was established in 1913 by the Federal Reserve Act, a response to financial panics and the need for a more stable and flexible monetary system. The main purpose of the Federal Reserve is to provide a stable and secure financial system and conduct the nation's monetary policy.


The headquarters of the Federal Reserve System is located in Washington D. C., specifically at 20th Street and Constitution Avenue NW. The building, known as the Marriner S.


Eccles Federal Reserve Board Building, is named after the former Federal Reserve Chairman who played a significant role in shaping the modern Fed. The Federal Reserve offers a range of products and services to fulfill its responsibilities. It sets monetary policy by influencing interest rates, conducts open market operations to manage the nation's money supply, supervises and regulates banks to maintain financial stability, provides banking services to depository institutions and the US government, and ensures the stability and efficiency of the payment and settlement systems.


While the Federal Reserve primarily operates within the United States, its influence extends globally. It collaborates with other central banks through various channels and participates in international organizations such as the Bank for International Settlements (BIS) to address global economic and financial stability issues. The Federal Reserve does not have any noteworthy subsidiaries, joint ventures, or partnerships.


As the central bank of the United States, it holds a dominant position in the domestic market, and its policies and actions have a significant impact on the global economy. Its key competitors are other central banks around the world, such as the European Central Bank (ECB) and the Bank of Japan. Major events for the Federal Reserve include the response to the 2008 financial crisis, where it implemented extraordinary measures to stabilize the economy.


Additionally, in response to the COVID-19 pandemic, the Fed introduced unprecedented measures to provide liquidity and support for the financial system and the economy. Currently, the Federal Reserve continues to navigate the challenges posed by the pandemic and supports the recovery of the US economy. It maintains its commitment to its mandate of maximum employment, stable prices, and moderate long-term interest rates.


Notably, the Fed has indicated its intention to keep interest rates near zero until the economy achieves full employment and inflation reaches its target rate of 2%

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