Federal Reserve System

Federal Reserve System (the Federal Reserve System; Federal Reserve; hereinafter referred to as the Federal Reserve) is the Central Bank of the United States. It is empowered by the U.S. Congress. It was established in 1913. It is headquartered in the central management committee in Washington, D.C. in addition, there are 12 regional Federal Reserve Banks in major cities in the United States. The Federal Reserve is composed of the Federal Reserve Board, the Federal Reserve Bank and the federal public The main responsibilities of the market opening Committee include: formulating monetary policy; Supervise banks and protect consumers' credit rights; Maintain financial stability; Provide reliable financial services to the government, the public, financial institutions and foreign institutions. Ben Bernanke is the current chief executive of the Federal Reserve.