The Fed is the Federal Reserve System of the United States. It is the central bank of the U.S., playing a crucial role in the country’s economy and, in fact, in the global financial system as a whole.
And yes, the Fed is not exactly a “government institution” as it may seem. It operates independently from the President and Congress, though it remains accountable to them. It’s a hybrid model: part of the Fed consists of government agencies, and part – of private banks.
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