Home > Term: Federal Reserve System
Federal Reserve System
The central banking system of the United States, established with passage of the Federal Reserve Act of 1913, charged with the responsibility of managing the country's money supply through such means as lowering or raising interest rates. A presidentially appointed board of seven members (the Federal Reserve Board) oversees the twelve regional banks of the Federal Reserve System.
- Part of Speech: proper noun
- Industry/Domain: History
- Category: American history
- Company: University of Houston
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- TJR
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