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Federal Reserve |
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The Federal Reserve, which sometimes is referred to as the Central Bank of the United States, was established in 1913. The chairman of the Federal Reserve and the Federal Reserve’s Board of Directors are appointed by the President of the United States. The Federal Reserve is responsible for several important monetary issues including printing US currency, regulating the supply of money, issuing government bonds, and setting the Federal Discount rate. These types of activities help the Federal Reserve control the supply of money and that in turn is how inflation is kept under control. When necessary, member banks can borrow money from the Federal Reserve.
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Credit Card Definitions > F - M > Federal Reserve
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