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What is the Federal Reserve System, and what is its purpose?

What is the Federal Reserve System, and what is its purpose?

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Answer #1

The Federal reserve system which is the central bank of States is the monetary and financial system

It generally consists of 12 regional Federal board governors that located in 12 different states of United State

It has 7 board of governors

The Federal open Market committee general used for policy and committee of money supply decision in the country

It also look for different type of wholesale payment systems like fedwire, National settlement service etc

If we talk about the main purpose of Federal reserve then it has four major functions-

To manage inflation

To supervise and regulate the National Bank

To focus on the stability of the financial system

To provide the banking services

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