The Federal Reserve System—or the "Fed" as it's known—arguably plays the most crucial role in the U.S. economy.
Yet most people have little idea how the Fed works, what it actually
does and why its decisions have so much impact. Here are the details.
What is the Federal Reserve?
The Fed is the gatekeeper of the U.S. economy and is part of the federal government.
Based
in Washington, D.C., the Fed is the bank of the U.S. government and
regulates the nation's financial institutions. It's comprised of a
network of 12 Federal Reserve Banks and a number of branches. This is
all overseen by the Fed's Board of Governors, which we'll detail a
little later.
READ MORE: http://www.cnbc.com/id/43752521
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