The Federal Reserve is the central bank of the US — here's why it's so powerful and how it affects your financial life

Oct 14, 2020 - Business Insider

There's a bank, and then there's the bank. 

The Federal Reserve, or "the Fed," is the central banking system of the United States, and just about everything it carries out influences your financial decisions and opportunities more than you may realize. 

An independent federal agency, the Fed was established in 1913 in response to a series of bank failures and stock market panics that were causing growing unease with the US' largel...