The Federal Reserve is America's central banking system established in 1913 to provide the country with a safe, flexible, and stable monetary and financial system.
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Monetary Policy: The process by which a country's central bank or monetary authority manages its money supply to achieve specific goals—such as controlling inflation, maintaining an exchange rate, achieving full employment or economic growth.
Inflation: A general increase in prices and fall in the purchasing value of money.
Interest Rates: The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.