Federal Reserve System.
central banking system of the United States
Fed Survey Finds Wealth Gap Widened by Age After Pandemic
A new report by the Federal Reserve published Friday indicates the wealth gap between affluent Americans and nearly everyone else has widened since the COVID-19 pandemic.
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About Federal Reserve System
The Federal Reserve System is the central banking system of the United States. 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 American monetary system. Although an instrument of the U.S. government, the Federal Reserve System is considered an independent central bank due to its structural insulation from political interference. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of central bank's remit.
Everything about Federal Reserve System →- Country
- United States
- Headquarters
- Eccles Building
- Inception
- December 23, 1913
- Website
- https://www.federalreserve.gov/
