Central Bank Federal Reserve. The Federal Reserve System is the central banking system of the United States. Although Federal Reserve Banks don't operate for profit, they generate income from interest on government securities acquired through Fed.
The Federal Reserve's work can often be mind-bendingly complex.
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At the national level, it is run by a Board of Governors, consisting of seven members appointed by the President of the United States and confirmed by the Senate. It was founded to create a stable, flexible monetary and financial system for the nation. US monetary policy is the core mandate of the Federal Reserve bank.
