Synonyms: Fed, Federal Reserve, Federal Reserve System, FRS
Definition: the central bank of the United States; incorporates 12 Federal Reserve branch banks and all national banks and state-chartered commercial banks and some trust companies
Usage: the Fed seeks to control the United States economy by raising and lowering short-term interest rates and the money supply
Similar words: central bank
Definition: a government monetary authority that issues currency and regulates the supply of credit and holds the reserves of other banks and sells new issues of securities for the government