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Federal Reserve System

Federal Reserve System Definition

It is the central bank of the United States and is the chief mechanism for making monetary policy. It was established by Congress in 1913 to regulate the lending practices of banks and thus the money supply. The Federal Reserve System is made up of a seven member Board of Governors appointed by the president and confirmed by the Senate and twelve regional Federal Reserve Banks.


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Federal Reserve - The Federal Reserve, the central bank of the United States



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