Federal Reserve | Vibepedia

The Federal Reserve System, created on December 23, 1913, is the central banking system of the United States, designed to alleviate financial crises and promote economic stability. As an independent central bank, it operates under a unique structure, with its monetary policy decisions not requiring approval from the president or Congress. The Federal Reserve has played a crucial role in shaping the US economy, particularly during times of crisis such as the Great Depression and the Great Recession.