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... The Fed: Who, What, When, Where, Why The Federal Reserve Board, commonly called the Fed, is the federal banking system, its governors, and its regulatory mechanisms. It has a board of governors known as the Federal Reserve Board, regional banks, and smaller banks that own shares in the federal system. The Fed is responsible for regulating the economy through the control of the money supply. They are also charged with the oversight of the banking industry to insure compliance by the participants. They also act as the servicer for several other banking institutions.
One of the primary functions of the Fed is to stabilize the economy. There is some debate about when the Fed should act as a stabilizing ...