{"id":11296,"date":"2024-02-21T15:49:34","date_gmt":"2024-02-21T20:49:34","guid":{"rendered":"https:\/\/faisalkhan.com\/?page_id=11296"},"modified":"2024-02-21T16:05:02","modified_gmt":"2024-02-21T21:05:02","slug":"federal-reserve-system","status":"publish","type":"page","link":"https:\/\/faisalkhan.com\/learn\/payments-wiki\/federal-reserve-system\/","title":{"rendered":"Federal Reserve System"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\" id=\"h-definition\">Definition<\/h3>\n\n\n\n<p>The Federal Reserve, often referred to as the Fed, is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act. Its primary purpose is to provide the nation with a safer, more flexible, and more stable monetary and financial system.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-usage-context\">Usage Context<\/h3>\n\n\n\n<p>The Federal Reserve plays a critical role in the U.S. economy through its functions of conducting national monetary policy, supervising and regulating banking institutions, maintaining the stability of the financial system, and providing financial services to depository institutions, the U.S. government, and foreign official institutions. The Fed&#8217;s actions influence the availability and cost of money and credit, which affects economic conditions and the financial markets.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-importance\">Importance<\/h3>\n\n\n\n<p>The Federal Reserve is essential for several reasons:<\/p>\n\n\n\n<ul>\n<li><strong>Monetary Policy<\/strong>: It influences interest rates and money supply to achieve maximum employment, stable prices, and moderate long-term interest rates.<\/li>\n\n\n\n<li><strong>Financial Stability<\/strong>: It works to contain systemic risks through active monitoring and engagement in the U.S. and global financial systems.<\/li>\n\n\n\n<li><strong>Banking Supervision<\/strong>: It ensures the safety and soundness of the nation\u2019s banking and financial system and protects the credit rights of consumers.<\/li>\n\n\n\n<li><strong>Financial Services<\/strong>: It provides a vital infrastructure for transferring funds, settling payments, and issuing the nation\u2019s currency.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-the-federal-reserve-banks-frbs\">The Federal Reserve Banks (FRBs)<\/h3>\n\n\n\n<p>The Federal Reserve System comprises 12 regional Federal Reserve Banks, each serving a specific geographic area of the United States. These banks play a crucial role in the nation&#8217;s central banking system, implementing the monetary policy directed by the <a href=\"https:\/\/faisalkhan.com\/learn\/resources-and-references\/federal-open-market-committee-fomc\/\">Federal Open Market Committee<\/a> (<a href=\"https:\/\/faisalkhan.com\/learn\/resources-and-references\/federal-open-market-committee-fomc\/\">FOMC<\/a>) and providing various financial services to depository institutions, the U.S. government, and foreign official institutions. Below is a list of all the Federal Reserve Banks, commonly referred to as FRBs, along with their official website addresses:<\/p>\n\n\n\n<ol>\n<li><strong>Federal Reserve Bank of Boston<\/strong> (FRB Boston)<br>Website: <a href=\"https:\/\/www.bostonfed.org\" target=\"_blank\">https:\/\/www.bostonfed.org<\/a><br><\/li>\n\n\n\n<li><strong>Federal Reserve Bank of New York<\/strong> (FRB New York)<br>Website: <a href=\"https:\/\/www.newyorkfed.org\" target=\"_blank\">https:\/\/www.newyorkfed.org<\/a><br><\/li>\n\n\n\n<li><strong>Federal Reserve Bank of Philadelphia<\/strong> (FRB Philadelphia)<br>Website: <a href=\"https:\/\/www.philadelphiafed.org\" target=\"_blank\">https:\/\/www.philadelphiafed.org<\/a><br><\/li>\n\n\n\n<li><strong>Federal Reserve Bank of Cleveland<\/strong> (FRB Cleveland)<br>Website: <a href=\"https:\/\/www.clevelandfed.org\" target=\"_blank\">https:\/\/www.clevelandfed.org<\/a><br><\/li>\n\n\n\n<li><strong>Federal Reserve Bank of Richmond<\/strong> (FRB Richmond)<br>Website: <a href=\"https:\/\/www.richmondfed.org\" target=\"_blank\">https:\/\/www.richmondfed.org<\/a><br><\/li>\n\n\n\n<li><strong>Federal Reserve Bank of Atlanta<\/strong> (FRB Atlanta)<br>Website: <a href=\"https:\/\/www.frbatlanta.org\" target=\"_blank\">https:\/\/www.frbatlanta.org<\/a><br><\/li>\n\n\n\n<li><strong>Federal Reserve Bank of Chicago<\/strong> (FRB Chicago)<br>Website: <a href=\"https:\/\/www.chicagofed.org\" target=\"_blank\">https:\/\/www.chicagofed.org<\/a><br><\/li>\n\n\n\n<li><strong>Federal Reserve Bank of St. Louis<\/strong> (FRB St. Louis)<br>Website: <a href=\"https:\/\/www.stlouisfed.org\" target=\"_blank\">https:\/\/www.stlouisfed.org<\/a><br><\/li>\n\n\n\n<li><strong>Federal Reserve Bank of Minneapolis<\/strong> (FRB Minneapolis)<br>Website: <a href=\"https:\/\/www.minneapolisfed.org\" target=\"_blank\">https:\/\/www.minneapolisfed.org<\/a><br><\/li>\n\n\n\n<li><strong>Federal Reserve Bank of Kansas City<\/strong> (FRB Kansas City)<br>Website: <a href=\"https:\/\/www.kansascityfed.org\" target=\"_blank\">https:\/\/www.kansascityfed.org<\/a><br><\/li>\n\n\n\n<li><strong>Federal Reserve Bank of Dallas<\/strong> (FRB Dallas)<br>Website: <a href=\"https:\/\/www.dallasfed.org\" target=\"_blank\">https:\/\/www.dallasfed.org<\/a><br><\/li>\n\n\n\n<li><strong>Federal Reserve Bank of San Francisco<\/strong> (FRB San Francisco)<br>Website: <a href=\"https:\/\/www.frbsf.org\" target=\"_blank\">https:\/\/www.frbsf.org<\/a><br><\/li>\n<\/ol>\n\n\n\n<p>Each Federal Reserve Bank operates within its own jurisdiction but is part of the larger Federal Reserve System, working together to fulfill the Fed&#8217;s mission to provide the nation with a safe, flexible, and stable monetary and financial system.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-users\">Users<\/h3>\n\n\n\n<p>The Federal Reserve interacts with a wide range of entities, including:<\/p>\n\n\n\n<ul>\n<li><strong>Commercial Banks<\/strong>: For reserve requirements, access to the discount window, and payment services.<\/li>\n\n\n\n<li><strong>The U.S. Government<\/strong>: As its banker and fiscal agent.<\/li>\n\n\n\n<li><strong>Other Central Banks and International Entities<\/strong>: Through cooperation in financial systems oversight and monetary policy.<\/li>\n\n\n\n<li><strong>Consumers and Businesses<\/strong>: Indirectly affected by the Fed&#8217;s policies through changes in interest rates, inflation, and economic growth.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-application\">Application<\/h3>\n\n\n\n<p>The Fed applies its policies through several key mechanisms:<\/p>\n\n\n\n<ul>\n<li><strong>Open Market Operations<\/strong>: Buying and selling U.S. Treasury securities to influence the money supply and interest rates.<\/li>\n\n\n\n<li><strong>The Discount Rate<\/strong>: The interest rate charged to commercial banks for borrowing funds from the Fed.<\/li>\n\n\n\n<li><strong>Reserve Requirements<\/strong>: Mandates on the amount of reserves a bank must hold against deposits.<\/li>\n\n\n\n<li><strong>Emergency Lending<\/strong>: To support the stability of the financial system during times of stress.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-different-names\">Different Names<\/h3>\n\n\n\n<p>The Federal Reserve is also known as:<\/p>\n\n\n\n<ul>\n<li>The Fed<\/li>\n\n\n\n<li>Federal Reserve System<\/li>\n\n\n\n<li>U.S. Central Bank<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-moral-issues\">Moral Issues<\/h3>\n\n\n\n<p>Moral issues surrounding the Federal Reserve include concerns about:<\/p>\n\n\n\n<ul>\n<li><strong>Transparency and Accountability<\/strong>: Critics argue for more transparency in Fed operations.<\/li>\n\n\n\n<li><strong>Influence on Inequality<\/strong>: Policies like quantitative easing are sometimes seen as exacerbating wealth inequality.<\/li>\n\n\n\n<li><strong>Centralization of Power<\/strong>: Concerns over the concentration of financial power and its implications for democracy.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-pros-and-cons\">Pros and Cons<\/h3>\n\n\n\n<p><strong>Advantages<\/strong>:<\/p>\n\n\n\n<ul>\n<li>Stabilizes the economy through informed monetary policies.<\/li>\n\n\n\n<li>Provides a safety net for the banking system.<\/li>\n\n\n\n<li>Facilitates efficient payment and settlement systems.<\/li>\n<\/ul>\n\n\n\n<p><strong>Disadvantages<\/strong>:<\/p>\n\n\n\n<ul>\n<li>Potential for policies to inadvertently lead to asset bubbles.<\/li>\n\n\n\n<li>Criticism over the effectiveness and consequences of quantitative easing.<\/li>\n\n\n\n<li>Concerns over the impact of low interest rates on savers and pension funds.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-real-world-examples\">Real-World Examples<\/h3>\n\n\n\n<ol>\n<li><strong>2008 Financial Crisis<\/strong>: The Fed played a crucial role in responding to the crisis, using emergency lending facilities to stabilize the banking sector and implementing quantitative easing to support economic recovery.<\/li>\n\n\n\n<li><strong>COVID-19 Pandemic Response<\/strong>: The Fed implemented a range of measures, including cutting interest rates to near zero and purchasing large amounts of government and corporate debt to support the economy.<\/li>\n\n\n\n<li><strong>Payment Systems Modernization<\/strong>: The Fed is developing FedNow, a new real-time payment and settlement service to enhance the efficiency and accessibility of the payment system in the U.S.<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-analogies\">Analogies<\/h3>\n\n\n\n<p>To better understand the role of the Federal Reserve, imagine it as the &#8220;heart&#8221; of the U.S. financial system, pumping money (blood) throughout the economy to ensure it remains healthy and stable. Just as the heart adjusts its rate based on the body&#8217;s needs, the Fed adjusts monetary policy to meet economic goals.<\/p>\n\n\n\n<p>This overview provides a comprehensive look at the Federal Reserve&#8217;s role in the banking and financial services domain, highlighting its critical functions, impact, and the breadth of its influence on both national and global scales.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Definition The Federal Reserve, often referred to as the Fed, is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act. Its primary purpose is to provide the nation with a safer, more flexible, and more stable monetary and financial system. Usage [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":3611,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_uag_custom_page_level_css":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"blocksy_meta":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","gb-block-post-grid-landscape":"","gb-block-post-grid-square":"","yarpp-thumbnail":""},"post_excerpt_stackable":"<p>Definition The Federal Reserve, often referred to as the Fed, is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act. Its primary purpose is to provide the nation with a safer, more flexible, and more stable monetary and financial system. Usage Context The Federal Reserve plays a critical role in the U.S. economy through its functions of conducting national monetary policy, supervising and regulating banking institutions, maintaining the stability of the financial system, and providing financial services to depository institutions, the U.S. government, and foreign official&hellip;<\/p>\n","category_list":"","author_info":{"name":"Faisal Khan","url":"https:\/\/faisalkhan.com\/author\/nomismad\/"},"comments_num":"0 comments","featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","gb-block-post-grid-landscape":"","gb-block-post-grid-square":"","yarpp-thumbnail":""},"post_excerpt_stackable_v2":"<p>Definition The Federal Reserve, often referred to as the Fed, is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act. Its primary purpose is to provide the nation with a safer, more flexible, and more stable monetary and financial system. Usage Context The Federal Reserve plays a critical role in the U.S. economy through its functions of conducting national monetary policy, supervising and regulating banking institutions, maintaining the stability of the financial system, and providing financial services to depository institutions, the U.S. government, and foreign official&hellip;<\/p>\n","category_list_v2":"","author_info_v2":{"name":"Faisal Khan","url":"https:\/\/faisalkhan.com\/author\/nomismad\/"},"comments_num_v2":"0 comments","yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.6 (Yoast SEO v22.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Federal Reserve System - Faisal Khan<\/title>\n<meta name=\"description\" content=\"Explore the Federal Reserve System&#039;s role in U.S. banking and finance, including its functions, importance, users, and real-world applications, with an insightful analogy.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/faisalkhan.com\/learn\/payments-wiki\/federal-reserve-system\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Federal Reserve System\" \/>\n<meta property=\"og:description\" content=\"Explore the Federal Reserve System&#039;s role in U.S. banking and finance, including its functions, importance, users, and real-world applications, with an insightful analogy.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/faisalkhan.com\/learn\/payments-wiki\/federal-reserve-system\/\" \/>\n<meta property=\"og:site_name\" content=\"Faisal Khan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/faisalkhanpaymentconsultant\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-21T21:05:02+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@FaisalKhanllc\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/faisalkhan.com\/learn\/payments-wiki\/federal-reserve-system\/\",\"url\":\"https:\/\/faisalkhan.com\/learn\/payments-wiki\/federal-reserve-system\/\",\"name\":\"Federal Reserve System - Faisal Khan\",\"isPartOf\":{\"@id\":\"https:\/\/faisalkhan.com\/#website\"},\"datePublished\":\"2024-02-21T20:49:34+00:00\",\"dateModified\":\"2024-02-21T21:05:02+00:00\",\"description\":\"Explore the Federal Reserve System's role in U.S. banking and finance, including its functions, importance, users, and real-world applications, with an insightful analogy.\",\"breadcrumb\":{\"@id\":\"https:\/\/faisalkhan.com\/learn\/payments-wiki\/federal-reserve-system\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/faisalkhan.com\/learn\/payments-wiki\/federal-reserve-system\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/faisalkhan.com\/learn\/payments-wiki\/federal-reserve-system\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/faisalkhan.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Learn\",\"item\":\"https:\/\/faisalkhan.com\/learn\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Payments Wiki\",\"item\":\"https:\/\/faisalkhan.com\/learn\/payments-wiki\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"Federal Reserve System\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/faisalkhan.com\/#website\",\"url\":\"https:\/\/faisalkhan.com\/\",\"name\":\"Faisal Khan\",\"description\":\"Get expert guidance on licensing, banking, payments, and cryptocurrency. Faisal Khan is your go-to resource for all your financial services needs.\",\"publisher\":{\"@id\":\"https:\/\/faisalkhan.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/faisalkhan.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/faisalkhan.com\/#organization\",\"name\":\"Faisal Khan LLC\",\"url\":\"https:\/\/faisalkhan.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/faisalkhan.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/faisalkhan.com\/wp-content\/uploads\/2023\/05\/Faisal-Khan-LLC-Main-Logo-2023.png\",\"contentUrl\":\"https:\/\/faisalkhan.com\/wp-content\/uploads\/2023\/05\/Faisal-Khan-LLC-Main-Logo-2023.png\",\"width\":285,\"height\":80,\"caption\":\"Faisal Khan LLC\"},\"image\":{\"@id\":\"https:\/\/faisalkhan.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/faisalkhanpaymentconsultant\",\"https:\/\/x.com\/FaisalKhanllc\",\"https:\/\/www.linkedin.com\/company\/faisal-khan-llc\"]}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Federal Reserve System - Faisal Khan","description":"Explore the Federal Reserve System's role in U.S. banking and finance, including its functions, importance, users, and real-world applications, with an insightful analogy.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/faisalkhan.com\/learn\/payments-wiki\/federal-reserve-system\/","og_locale":"en_US","og_type":"article","og_title":"Federal Reserve System","og_description":"Explore the Federal Reserve System's role in U.S. banking and finance, including its functions, importance, users, and real-world applications, with an insightful analogy.","og_url":"https:\/\/faisalkhan.com\/learn\/payments-wiki\/federal-reserve-system\/","og_site_name":"Faisal Khan","article_publisher":"https:\/\/www.facebook.com\/faisalkhanpaymentconsultant","article_modified_time":"2024-02-21T21:05:02+00:00","twitter_card":"summary_large_image","twitter_site":"@FaisalKhanllc","twitter_misc":{"Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/faisalkhan.com\/learn\/payments-wiki\/federal-reserve-system\/","url":"https:\/\/faisalkhan.com\/learn\/payments-wiki\/federal-reserve-system\/","name":"Federal Reserve System - Faisal Khan","isPartOf":{"@id":"https:\/\/faisalkhan.com\/#website"},"datePublished":"2024-02-21T20:49:34+00:00","dateModified":"2024-02-21T21:05:02+00:00","description":"Explore the Federal Reserve System's role in U.S. banking and finance, including its functions, importance, users, and real-world applications, with an insightful analogy.","breadcrumb":{"@id":"https:\/\/faisalkhan.com\/learn\/payments-wiki\/federal-reserve-system\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/faisalkhan.com\/learn\/payments-wiki\/federal-reserve-system\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/faisalkhan.com\/learn\/payments-wiki\/federal-reserve-system\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/faisalkhan.com\/"},{"@type":"ListItem","position":2,"name":"Learn","item":"https:\/\/faisalkhan.com\/learn\/"},{"@type":"ListItem","position":3,"name":"Payments Wiki","item":"https:\/\/faisalkhan.com\/learn\/payments-wiki\/"},{"@type":"ListItem","position":4,"name":"Federal Reserve System"}]},{"@type":"WebSite","@id":"https:\/\/faisalkhan.com\/#website","url":"https:\/\/faisalkhan.com\/","name":"Faisal Khan","description":"Get expert guidance on licensing, banking, payments, and cryptocurrency. Faisal Khan is your go-to resource for all your financial services needs.","publisher":{"@id":"https:\/\/faisalkhan.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/faisalkhan.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/faisalkhan.com\/#organization","name":"Faisal Khan LLC","url":"https:\/\/faisalkhan.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/faisalkhan.com\/#\/schema\/logo\/image\/","url":"https:\/\/faisalkhan.com\/wp-content\/uploads\/2023\/05\/Faisal-Khan-LLC-Main-Logo-2023.png","contentUrl":"https:\/\/faisalkhan.com\/wp-content\/uploads\/2023\/05\/Faisal-Khan-LLC-Main-Logo-2023.png","width":285,"height":80,"caption":"Faisal Khan LLC"},"image":{"@id":"https:\/\/faisalkhan.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/faisalkhanpaymentconsultant","https:\/\/x.com\/FaisalKhanllc","https:\/\/www.linkedin.com\/company\/faisal-khan-llc"]}]}},"featured_image_src":null,"featured_image_src_square":null,"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false,"gb-block-post-grid-landscape":false,"gb-block-post-grid-square":false,"yarpp-thumbnail":false},"uagb_author_info":{"display_name":"Faisal Khan","author_link":"https:\/\/faisalkhan.com\/author\/nomismad\/"},"uagb_comment_info":0,"uagb_excerpt":"Definition The Federal Reserve, often referred to as the Fed, is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act. Its primary purpose is to provide the nation with a safer, more flexible, and more stable monetary and financial system. Usage&hellip;","_links":{"self":[{"href":"https:\/\/faisalkhan.com\/wp-json\/wp\/v2\/pages\/11296"}],"collection":[{"href":"https:\/\/faisalkhan.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/faisalkhan.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/faisalkhan.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/faisalkhan.com\/wp-json\/wp\/v2\/comments?post=11296"}],"version-history":[{"count":3,"href":"https:\/\/faisalkhan.com\/wp-json\/wp\/v2\/pages\/11296\/revisions"}],"predecessor-version":[{"id":11301,"href":"https:\/\/faisalkhan.com\/wp-json\/wp\/v2\/pages\/11296\/revisions\/11301"}],"up":[{"embeddable":true,"href":"https:\/\/faisalkhan.com\/wp-json\/wp\/v2\/pages\/3611"}],"wp:attachment":[{"href":"https:\/\/faisalkhan.com\/wp-json\/wp\/v2\/media?parent=11296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}