WordWeb Online

1. The central bank of the United States; incorporates 12 Federal Reserve branch banks and all national banks and state-chartered commercial banks and some trust companies
   "the Federal Reserve System seeks to control the United States economy by raising and lowering short-term interest rates and the money supply"; "the Federal Reserve seeks to control the United States economy by raising and lowering short-term interest rates and the money supply"
   - Federal Reserve System, Fed, FRS

Type of: central bank

Encyclopedia: Federal Reserve