The Federal Reserve System: A Look at Our Country’s Premier Financial Institution | Abhay Partap Singla, University of Massachusetts Amherst

Abstract

The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America. Its mandate is to promote a strong U.S. economy, by ensuring maximum sustainable employment, stable prices, and moderate long- term interest rates. The functioning of this institution affects the finances of each and every citizen of this country. This article’s main objective is to analyze the working of this prime institution and also argue about whether we need a change in the system, so to confirm its ideal functioning.