The Federal Reserve System is a private central bank in the United States.
The Federal Reserve consists of the Federal Reserve Board in Washington and 12 Federal Reserve banks in different parts of the country.
The Federal Reserve is the largest holder of federal debt in the United States. It keeps secrets from its shareholders and carries out its duties as the nation’s central bank.
The system was established by the Federal Reserve Act of December 23, 1913.
The Fed’s core regulator is the Federal Reserve Board.
The Federal Reserve’s board of governors is composed mainly of members of the Federal Reserve Committee.
Avoid too much concentration of decision-making power in a few places (e.g., Washington and New York).
In the form of organization, the Federal Reserve adopts the dual organization structure of a federal government agency and a non-profit organization, thereby avoiding the complete concentration of policy in the hands of the federal government.
