( Finance : Banking )
The Federal Reserve
is the central bank
that issues money in the US.
The Federal Reserve was born in 1913 and was instituted to solve the problem of coordinating the inflation
of the currency and the need to bail out banks in trouble.
Deposit institutions are required by the Federal Reserve to maintain reserves above a minimum requirement.
The Federal Reserve is the central bank that issues money in the US.
Collins English Dictionary. Copyright © HarperCollins Publishers