The Federal Reserve, often called the Fed, is the central bank of the United States. Established in 1913, its main purpose is to manage the country's monetary policy, regulate banks, and provide financial services. The Fed aims to promote maximum employment, stable prices, and moderate long-term interest rates. The Federal Reserve operates through a system of twelve regional banks and a Board of Governors in Washington, D.C.. It influences the economy by setting interest rates and controlling the money supply. By doing so, the Fed helps ensure a stable financial system and supports economic growth.