Federal Reserve System
Definition
The central bank of the United States, established 1913. Comprises the Board of Governors and 12 regional Reserve Banks.
Example
The Fed sets short-term interest rates and acts as lender of last resort.
The central bank of the United States, established 1913. Comprises the Board of Governors and 12 regional Reserve Banks.
The Fed sets short-term interest rates and acts as lender of last resort.