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The Fed Explained: What the Central Bank Does

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  • Raul Anibal Feliz

Abstract

The 11th edition of The Fed Explained: What the Central Bank Does (formerly The Federal Reserve System Purposes & Functions) details the structure, responsibilities, and work of the U.S. central banking system. The Federal Reserve System performs five functions to promote the effective operation of the U.S. economy and, more generally, to serve the public interest. It includes three key entities: the Board of Governors, 12 Federal Reserve Banks, and the Federal Open Market Committee.

Suggested Citation

  • Raul Anibal Feliz, 2021. "The Fed Explained: What the Central Bank Does," Reports and Studies 4860, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:g00002:4860
    DOI: 10.17016/0199-9729.11
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