Congress founded the' Fed'eral Reserve, the central bank of the United States, in 1913. It conducts the nation's monetary policy and regulates its banks in order to achieve a flexible and stable economy. The seven members of the Board of Governors of the Federal Reserve System are nominated by the President and confirmed by the Senate to serve 14-year terms. The chairman and the vice chairman of the board are named by the President from among the members and are confirmed by the Senate. They serve a term of four years.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). fed. Retrieved September 22, 2026, from http://smartdefine.org/fed/definitions/1153684 |
| Chicago | Barry Goldsmith. 2010. "fed" http://smartdefine.org/fed/definitions/1153684 (accessed September 22, 2026). |
| Harvard | Barry Goldsmith 2010, fed, Smart Define, viewed 22 September, 2026, <http://smartdefine.org/fed/definitions/1153684>. |
| MLA | Barry Goldsmith. "fed" 21 October 2010. Web. 22 September 2026. <http://smartdefine.org/fed/definitions/1153684> |