By Andrew Moran The Federal Reserve kept interest rates unchanged at the March Federal Open Market Committee (FOMC) policy meeting on March 20, but officials signaled that three rate cuts were still planned for this year. Monetary authorities kept the benchmark Fed funds rate at a range of 5.25 percent and 5.5 percent, the highest […]
Tag: Federal Reserve System
The Federal Reserve System is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises.