Akademik

the central bank of the United States; incorporates 12 Federal Reserve branch banks and all national banks and state-chartered commercial banks and some trust companies

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the Fed seeks to control the United States economy by raising and lowering short-term interest rates and the money supply

a U.S. federal banking system that is under the control of a central board of governors (Federal Reserve Board) with a central bank (Federal Reserve Bank) in each of 12 districts and that has wide powers in controlling credit and the flow of money as well as in performing other functions, as regulating and supervising its member banks.

Federal Reserve System,

U.S. the federal system of banks consisting of twelve Federal Reserve Banks and supervised by the Federal Reserve Board. The Federal Reserve System regulates the loans and reserves of member banks and influences the flow of credit and currency in the country. It loans money only to banks in the system and adjusts the amount of money in the country to the needs by changing the rate of interest on its loans. Abbr: FRS (no periods).

the ˌFederal Reˈserve System 7 [Federal Reserve System] (also the Federal Reserve) noun (abbr. the FRS) (also informal the Fed) singular

the organization that controls the supply of money in the US

See also: ↑Fed  

The FRS was established by the Federal Reserve Act of 1913. Its ↑Federal Reserve Banks deal with commercial banks in their regions. All national banks must join the system and state banks, ↑savings and loan associations and ↑credit unions may join with the Fed’s approval. The system is directed by seven people appointed by the US President, and their chairman is extremely powerful.