What is Federal Reserve?

  • (noun): The central bank of the United States; incorporates 12 Federal Reserve branch banks and all national banks and state charted commercial banks and some trust companies.
    Synonyms: Federal Reserve System, Fed, FRS

Federal Reserve

The Federal Reserve System (also known as the Federal Reserve, and informally as 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, largely in response to a series of financial panics, particularly a severe panic in 1907. Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved. Events such as the Great Depression were major factors leading to changes in the system.

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Some articles on Federal Reserve:

List Of Chairmen Of The Federal Reserve
... following is a list of past and present Chairmen of the Board of Governors of the Federal Reserve System ... The current Chairman of the Federal Reserve is Ben Bernanke ... There have been a total of 14 Chairmen of the Federal Reserve ...
Federal Reserve - Criticisms
... The Federal Reserve System has faced various criticisms since its inception in 1913 ... These criticisms include the assertions that the Federal Reserve System violates the United States Constitution and that it impedes economic prosperity ... The movement to audit the Federal Reserve System has gained national traction a bill related to the movement was passed through the House of Representatives in 2012 ...
Late-2000s Financial Crisis - Government Responses - Emergency and Short-term Responses
... Federal Reserve and central banks around the world have taken steps to expand money supplies to avoid the risk of a deflationary spiral, in which lower wages and higher unemployment lead to a self-rein ... Federal Reserve's new and expanded liquidity facilities were intended to enable the central bank to fulfill its traditional lender-of-last-resort role ... The response of the Federal Reserve, the European Central Bank, and other central banks was immediate and dramatic ...
Subprime Crisis Impact Timeline - 2007
... February 26Comments by former Federal Reserve Chairman, Alan Greenspan, set off market tremors ... April 18 Freddie Mac fined $3.8 million by the Federal Election Commission as a result of illegal campaign contributions, much of it to members of the United States House Committee on Financial Services ... Federal Reserve injects about $100 billion into the money supply for banks to borrow at a low rate ...
List Of Federal Reserve Branches - See Also
... Federal Reserve System Federal Reserve Act Federal Reserve Districts. ...

Famous quotes containing the words reserve and/or federal:

    Common experience is the gold reserve which confers an exchange value on the currency which words are; without this reserve of shared experiences, all our pronouncements are cheques drawn on insufficient funds.
    René Daumal (1908–1944)

    Goodbye, boys; I’m under arrest. I may have to go to jail. I may not see you for a long time. Keep up the fight! Don’t surrender! Pay no attention to the injunction machine at Parkersburg. The Federal judge is a scab anyhow. While you starve he plays golf. While you serve humanity, he serves injunctions for the money powers.
    Mother Jones (1830–1930)