How does the federal reserve bank work?

Answer The Federal Reserve was created by the Federal Reserve Act of 1913 to serve as the U.S. central bank. This was in response to a series of severe financial crises that plagued the 1800's culminating... Read More »

Top Q&A For: How does the federal reserve bank work

Is the Federal Reserve Bank a Private Bank?

Federal Reserve banks are not private companies, according to the Federal Reserve Board. However, they do act like a private company because private banks can hold stock in Federal Reserve banks--b... Read More »

Is the Federal Reserve Bank a federal agency?

The Federal Reserve Bank is a component of the Federal Reserve System (a.k.a., the Fed), which is a government agency of the United States. The Reserve Bank is made up of 12 regional banks across m... Read More »

Where is the Federal Reserve Bank?

The Board of Governors of the Federal Reserve Bank is located in Washington, D.C., at 20th Street and Constitution Avenue NW. However, the Federal Reserve Bank has regional branches in Boston, New ... Read More »

Who is the head of the Federal Reserve Bank?

The chairman of the Federal Reserve System’s board of governors is Ben S. Bernanke, as of 2010. Bernanke started a second four-year term as chairman on Feb. 1, 2010. He was appointed by the presi... Read More »