Federal Reserve System
central banking system of the United States
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The Federal Reserve System is the central banking system of the United States. It was founded by Robert Latham Owen[1].
Established to provide the country with a safer, more flexible, and more stable monetary and financial system, the Federal Reserve System plays a critical role in U.S. economic policy. Its creation marked a significant shift in the nation's approach to banking and finance.
Key Facts
- Country: United States[3]
- Instance of: independent agency of the United States government[4]
- Founder: Robert Latham Owen[5]
- Headquarters location: Eccles Building[6]
- Child organization or unit: Federal Reserve Police[7], Federal Reserve Bank of Atlanta[8], Federal Reserve Bank of Boston[9], Federal Reserve Bank of Chicago[10], Federal Reserve Bank of Cleveland[11], Federal Reserve Bank of Dallas[12], Federal Reserve Bank of Kansas City[13], Federal Reserve Bank of Minneapolis[14], Federal Reserve Bank of New York[15], Federal Reserve Bank of Philadelphia[16], Federal Reserve Bank of Richmond[17], Federal Reserve Bank of San Francisco[18], Federal Reserve Bank of St. Louis[19], Board of Governors of the Federal Reserve System[20]
- Commons category: Federal Reserve[21]
- Chairperson: Jerome Powell[22]
- Has part(s): Federal Reserve Bank[23]
- Inception: December 23, 1913[24]
- Official website: https://www.federalreserve.gov/[25]
- Topic's main category: Category:Federal Reserve System[26]
- Commons gallery: Federal Reserve[27]
- Described at URL: https://www.federalregister.gov/agencies/federal-reserve-system[28]
- Applies to jurisdiction: United States[29]
- Described by source: 1922 Encyclopædia Britannica[30]
- Replaces: Second Bank of the United States[31]
- Topic has template: Template:Federal Reserve System[32]
- Official name: Federal Reserve System[33]
- Position held by head of the organization: Chair of the Federal Reserve[34]
- Target interest rate: 1.625 percent[35], 1.125 percent[36], 3.875 percent[37]
Why It Matters
Federal Reserve System has Wikipedia articles in 30 language editions, a strong signal of global cultural recognition.[38] It is known by 63 alternative names across languages and contexts.[39]
Works attributed to it include Beige Book[40], a report[41], in United States[42].