United States Political Parties
The Federal Reserve System, often referred to as the Fed, is the central banking system of the United States, established in 1913 to provide the country with a safe, flexible, and stable monetary and financial system. It plays a crucial role in managing the nation's monetary policy, regulating banks, maintaining financial stability, and providing financial services to the government and financial institutions. Its creation was a significant response to the banking panics that plagued the nation during the late 19th and early 20th centuries, particularly in the context of economic reforms during the Progressive Era.
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