The Federal Reserve, often referred to as the Fed, is the central banking system of the United States. Established in 1913, its primary roles include conducting monetary policy, regulating banks, maintaining financial stability, and providing banking services to the government and financial institutions. The Federal Reserve influences interest rates, adjusts the money supply, and supervises and regulates financial institutions to ensure their safety and soundness. Its decisions can impact inflation, employment, and overall economic growth, making it a crucial component of the U.S. economy and financial system.