BANKING AFFAIRS

Detailed explanation-1: -The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system.

Detailed explanation-2: -The Board of Governors–located in Washington, D.C.–is the governing body of the Federal Reserve System. It is run by seven members, or “governors, ” who are nominated by the President of the United States and confirmed in their positions by the U.S. Senate.

Detailed explanation-3: -The Federal Reserve System, often referred to as the Federal Reserve or simply “the Fed, ” is the central bank of the United States. It was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system.

Detailed explanation-4: -The Federal Reserve, like many other central banks, is an independent government agency but also one that is ultimately accountable to the public and the Congress.

Detailed explanation-5: -Fed is an institution that supervises the banking system, regulates the quantity of money in the economy. The Fed acts as the lender of last resort to banks and thrifts, regulates the money supply and sets reserve requirements.