The Federal Reserve, or "the Fed," is the central banking system of the U.S. The purpose of the Federal Reserve is to regulate banks, manage the country's money supply, and implement monetary policy.

The Federal Reserve exists to create control over the United States monetary system. It was created in 1913 in response to a banking panic, with a goal of ensuring that similar panics would be ...

the Federal Reserve Act of 1913 created the Federal Reserve System and the Federal Reserve became the lender of last resort to U.S. banks in trouble. Over time, the Fed took on more powers to help ...