What is the role of the Federal Reserve or Fed in America?

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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What is the role of the Federal Reserve or Fed in America? 

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Step 1: Define Federal Reserve

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

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