ECONOMICS (CBSE/UGC NET)

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 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-3: -What Does It Mean That the Federal Reserve Is a Central Bank? A central bank is a financial institution that is responsible for overseeing the monetary system and policy of a nation. A central bank regulates the money supply and sets a nation’s interest rates.

Detailed explanation-4: -Federal Reserve Board-Federal Reserve Banks.

Detailed explanation-5: -The Federal Reserve, unlike most central banks, is semi-decentralized. 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.