FEDERAL RESERVE SYSTEM
\fˈɛdəɹə͡l ɹɪsˈɜːv sˈɪstəm], \fˈɛdəɹəl ɹɪsˈɜːv sˈɪstəm], \f_ˈɛ_d_ə_ɹ_əl ɹ_ɪ_s_ˈɜː_v s_ˈɪ_s_t_ə_m]\
Definitions of FEDERAL RESERVE SYSTEM
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the central bank of the United States; incorporates 12 Federal Reserve branch banks and all national banks and stated charted commercial banks and some trust companies; "the Fed seeks to control the United States economy by raising and lowering short-term interest rates and the money supply"
By Princeton University
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The US CENTRAL BANK system, created in 1913 via the Federal Reserve Act, comprised of 12 FEDERAL RESERVE BANKS, the FEDERAL RESERVE BOARD, the FEDERAL OPEN MARKETS COMMITTEE, and member banks (which hold EQUITY in the 12 Federal Reserve banks). Operating responsibilities are divided between the board and the banks.
By Henry Campbell Black
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Platidiam
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