• The Federal Reserve System is the central bank and monetary authority of the United States.
  • The FRS provides the country with a safe, flexible and stable monetary and financial system.
  • The Federal Reserve System consists of 12 regional Federal Reserve Banks, each of which is responsible for a certain geographical area of the United States.
  • The main responsibilities of the Fed include conducting national monetary policy, supervising and regulating banks, maintaining financial stability and providing banking services.
  • The Federal Open Market Committee is the body of the Federal Reserve, which determines monetary policy and manages the country’s money supply.