Federal Reserve System photograph

Federal Reserve System

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Web site www.federalreserve.gov
Bank rate2. 50%
Child agency Federal Open Market Committee
Chairperson Jerome Powell
Interest rate target2. 00% to 2. 25%
Interest on reserves2. 20%
Founders United States Congress
Date of Reg.
Date of Upd.
ID495892
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About Federal Reserve System


The Federal Reserve System is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises.

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