| 单词 | Federal Reserve System |
| 释义 | Federal Reserve System = Fed The organization, consisting of the 12 Federal Reserve Banks, that functions as the central bank of the USA. Created by the Federal Reserve Act 1913, the system controls monetary policy, regulates the cost of money and the money supply to local banks, and supervises international banking by means of its agreement with the central banks of other countries. The system is administered centrally by the Federal Reserve Board, based in Washington DC. |
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