The U.S. Federal Reserve (often called the Fed) is the central bank of the [[United States of America (USA)]]. It was created in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system. The Fed has a number of key responsibilities, including:   - **Conducting monetary policy:** This involves influencing the supply of money and credit in the economy to promote maximum employment, stable prices, and moderate long-term interest rates. - **Supervising and regulating banks:** The Fed oversees financial institutions to ensure the safety and soundness of the banking system. - **Maintaining the stability of the financial system:** The Fed acts as a lender of last resort to banks, helps to contain systemic risk, and provides financial services to the U.S. government. The Fed is governed by a Board of Governors and has 12 regional Federal Reserve Banks located across the country.