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The Federal Reserve Board, also known as the Fed, is the central banking system of the United States. It was established in 1913 to provide a stable monetary and financial system. The Fed has three main responsibilities: conducting monetary policy, supervising and regulating banks, and providing financial services to the government and financial institutions. Through its actions, the Fed influences interest rates, inflation, and economic growth.
One of the key tools the Fed uses to control the money supply is the federal funds rate, which is the interest rate at which banks lend to each other overnight. By raising or lowering this rate, the Fed can influence the availability of credit and ultimately impact economic activity. The Fed also conducts open market operations, buying and selling government securities to influence the amount of money in circulation.
In addition to its monetary policy role, the Fed also supervises and regulates banks to ensure the safety and soundness of the financial system. This includes conducting bank examinations,
