Federal Reserve---The central
banking system of the US also known as “the Fed”. It is rumoured to be a hybrid
governmental and privately owned entity. Others say no, it is truly the red,
white and blue. It is responsible for maintaining price stability and maximum
employment: the dual mandate. It provides financial services to banking
institutions and steers the nation’s money supply. It is independently in charge of monetary
policy.
It operates one of two electronic clearinghouses according to
legend. There are twelve branches, each responsible for the banks in its
district. The New York Federal Reserve
Bank is branch 2 of 12, and it is the bank that does the actual “paperwork” of
the Fed’s
Open Market Committee
Many thanks to Wikipedia and Bloomberg LP for help with this definition
Many thanks to Wikipedia and Bloomberg LP for help with this definition