The Federal Reserve System was established in 1913 with the signing of the Federal Reserve Act by President Woodrow Wilson. The Fed, as it is commonly known, was created to serve as the central banking system of the United States, with the primary goals of maintaining monetary and financial stability. The Fed is composed of a Board of Governors, a Federal Open Market Committee (FOMC), and 12 regional Federal Reserve Banks. The Board of Governors, located in Washington, D.C., is responsible for setting key interest rates and overseeing the operations of the Federal Reserve System. In the decades following its establishment, the Federal Reserve has played a crucial role in shaping the U.S. economy. During the Great Depression, the Fed's actions were criticized for exacerbating the economic downturn, leading to reforms and a shift in its policy approach. Over time, the Fed's responsibilities have expanded to include managing inflation, promoting full employment, and ensuring the stability of the financial system. The Fed's monetary policy decisions, such as adjusting interest rates, have a significant impact on the broader economy, affecting consumer spending, business investment, and the value of the U.S. dollar. Today, the Federal Reserve continues to be a central pillar of the U.S. financial system, playing a critical role in promoting economic growth and stability. 🤡 🎪 🐘 Study #bitcoin 🧡 https://image.nostr.build/96c7c834292047c2ccbd363aea1960952a34902868026eb4941ee4e3b4752e59.jpg