The Federal Reserve, often known as the Fed, serves as the central bank of the United States. Its critical role involves conducting monetary policy to achieve...
The Federal Reserve's primary function is to conduct monetary policy to promote maximum employment and price stability (low inflation) in the U.S. economy.
The Fed influences the economy primarily by setting the federal funds rate target, which impacts other interest rates, borrowing costs, and the availability of money and credit.
The FOMC is the Federal Reserve's principal monetary policymaking body. It comprises 12 members who meet eight times a year to discuss and decide on monetary policy.
The Federal Reserve is led by a Board of Governors, with seven members nominated by the President and confirmed by the Senate. The Chair of the Board is its most prominent figure.