The Federal Reserve which is also known as the Federal Reserve System or more commonly the Fed, is America’s central banking system that was created in 1913 following the enactment of the Federal Reserve Act. The Federal Reserve was created to provide a more stable and secure banking system in the U.S. as the regional banks and financial institutions were very much disorganized and had lost public confidence. The main goal of the Fed is to create a stable economy that is characterized by high employment and production, steady growth and stable prices. The structure of the Federal Reserve changed ...
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