The Federal Reserve System of the United States, referred to as the Federal Reserve, is responsible for performing the duties of the central bank of the United States. The system was established on 19 13 12/23 according to the Federal Reserve Act. The core management body of the Federal Reserve is the Federal Reserve Board of Directors. ?
The Federal Reserve System of the United States consists of the Federal Reserve Board in Washington, D.C. and 65,438+02 regional federal reserve banks in major cities of China. Jerome Powell is currently the CEO of the Federal Reserve (Chairman of the Board of Directors of the Federal Reserve). As the central bank of the United States, the Federal Reserve obtains power from the United States Congress, and exercises duties such as formulating monetary policy and supervising American financial institutions.
The United States Federal Reserve System is the central bank of the United States. Compared with the central banks of other countries, the Federal Reserve, as the central bank of the United States, was born later. Historically, the United States has tried many times to establish a central bank like the Federal Reserve, but all failed because legislators and presidents were worried that the central bank was too powerful or kidnapped by a few interest groups.
This kind of worry is mainly determined by the national form of the United States. In the early days of the founding of the People's Republic of China, the United States was a loose organization composed of some independent states in federal form, and most of the administrative power was mainly concentrated in the state government, not the federal government. Therefore, the idea of establishing a federal agency similar to the central bank will arouse the vigilance of States, who are worried that the federal government wants to expand its power in this name.
Reference materials? Federal Reserve-Baidu Encyclopedia