What Is The Federal Reserve?

Patrick Curtis

Reviewed by

Patrick Curtis WSO Editorial Board

Expertise: Investment Banking | Private Equity

The Federal Reserve is the central bank of the United States of America. The main responsibilities of the Fed are:

  • Ensuring stability in the financial system
  • Regulation of the banking industry
  • Protecting the rights and deposits of customers
  • Implement monetary policy
  • Finance the US government

The Federal Reserve sets interest rates, controls the money supply, enforces regulation and acts as a lender of last resort. The head of the Federal Reserve is called the Chairman of the Board of Governors and as of October 2011, the Chairman is Ben Bernanke.

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Patrick Curtis

Patrick Curtis is a member of WSO Editorial Board which helps ensure the accuracy of content across top articles on Wall Street Oasis. He has experience in investment banking at Rothschild and private equity at Tailwind Capital along with an MBA from the Wharton School of Business. He is also the founder and current CEO of Wall Street Oasis. This content was originally created by member WallStreetOasis.com and has evolved with the help of our mentors.