ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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-2: -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.

Detailed explanation-3: -The U.S. central banking system-the Federal Reserve, or the Fed-is the most powerful economic institution in the United States, perhaps the world. Its core responsibilities include setting interest rates, managing the money supply, and regulating financial markets.

Detailed explanation-4: -The Federal Reserve System (sometimes called “The Fed") is the central bank of the United States.

Detailed explanation-5: -Why is the Fed often referred to as a “lender of last resort, ” or the last lender to turn to in a crisis? It offers banks financial protection to keep consumers from panicking.