The 11th edition of The Fed Explained: What the Central Bank Does (formerly The Federal Reserve System Purposes & Functions) details the structure, responsibilities, and work of the U.S. central banking system. The Federal Reserve System performs five functions to promote the effective operation of the U.S. economy and, more generally, to serve the public interest. It includes three key entities: the Board of Governors, 12 Federal Reserve Banks, and the Federal Open Market Committee.
A publication of the Board of Governors of the Federal Reserve System
This book is available in Adobe Acrobat format, as a complete publication or by chapter.
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Board of Governors of the Federal Reserve System
20th Street and Constitution Avenue N.W., Washington, DC 20551
