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Federal Reserve System
 by Scott Rothbort
 on March 27, 2008

The Federal Reserve System serves as the central bank for the United States of America. The Federal Reserve System was was created by an Congress on December 23, 1913 by passage of the Federal Reserve Act. The System consists of a seven member Board of Governors with headquarters in Washington, D.C., and twelve Reserve Banks located in major cities throughout the United States.

The primary responsibilities of The Federal Reserve System is to control monetary policy of the country and to supervise and regulate the banking system

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