Definition of "Federal Reserve"
Banking
system of federal government control of US banks the central banking system of the United States, founded in 1913 by an Act of Congress. The board of governors, made up of seven members, is based in Washington, DC, and 12 Reserve Banks are located in major cities across the United States. It regulates money supply, prints money, fixes the discount rate, and issues bonds for government debt.
Related definitions of "Federal Reserve"
- Also called Federal Reserve System, Fed
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