The Federal Reserve, the United States central bank, provides the country with a secure, flexible, and stable monetary and financial system. The Fed was created as a decentralized, independent agency to ensure that monetary policy decisions are representative of all regions of the country and are free of political influence.
Central banks implement a country's monetary policy and control its money supply, and are frequently tasked with maintaining low inflation and steady GDP growth. To control the cost of borrowing and lending across an economy, central banks influence interest rates and participate in open market operations on a macro level.
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