The U.S. Federal Reserve, often called the Fed, is the central bank of the United States. Established in 1913, its primary role is to manage the country's monetary policy, which includes controlling inflation, regulating interest rates, and overseeing the banking system. The Fed operates through a network of twelve regional banks and is governed by a Board of Governors. It aims to promote maximum employment, stable prices, and moderate long-term interest rates, contributing to the overall economic stability of the nation.