<P> The Federal Reserve System ( also known as the Federal Reserve or simply the Fed ) is the central banking system of the United States . It was created on December 23 , 1913 , with the enactment of the Federal Reserve Act , after a series of financial panics ( particularly the panic of 1907 ) led to the desire for central control of the monetary system in order to alleviate financial crises . Over the years , events such as the Great Depression in the 1930s and the Great Recession during the 2000s , have led to the expansion of the roles and responsibilities of the Federal Reserve System . </P>
<P> The Federal Reserve System ( also known as the Federal Reserve or simply the Fed ) is the central banking system of the United States . It was created on December 23 , 1913 , with the enactment of the Federal Reserve Act , after a series of financial panics ( particularly the panic of 1907 ) led to the desire for central control of the monetary system in order to alleviate financial crises . Over the years , events such as the Great Depression in the 1930s and the Great Recession during the 2000s , have led to the expansion of the roles and responsibilities of the Federal Reserve System . </P>
the federal reserve is an example of a ( n )
the federal reserve is an example of a ( n )
central banking system
central banking system