ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The Federal Reserve System is the central bank of the United States. It performs five general. functions to promote the effective operation of the U.S. economy and, more generally, the public. interest. The Federal Reserve.

Detailed explanation-2: -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-3: -The Federal Reserve System (sometimes called “The Fed") is the central bank of the United States. As the St. Louis Fed’s overview “In Plain English” explains it, A “central bank” is the name given to a country’s primary monetary authority.

Detailed explanation-4: -Federal Reserve Banks distribute currency and coin to banks, lend money to banks, and process electronic payments. At one point, workers’ paychecks and the checks written to pay mortgages and most other bills were sent to one of the 12 Reserve Banks, where the checks were processed to settle the debt.