Federal Reserve: News & Analysis – Investing.com
Understanding the Federal Reserve System: Origins and Key Members
The Federal Reserve System, the central banking system, was established in 1913 through the Federal Reserve Act. Its creation followed a series of financial crises, notably the severe panic of 1907. The Federal Reserve System‘s initial purpose was to provide stability. Over the years, the Federal Reserve‘s responsibilities and organizational structure have expanded considerably.
Jerome H. Powell currently serves as the Federal Reserve chairman. Voting members include Randal K. Quarles, William C. Dudley, Thomas I. Barkin,Raphael W. Bostic, Lael Brainard, Loretta J. Mester, and John C. Williams.
What’s next
The Federal Reserve will continue to monitor economic conditions and adjust monetary policy as needed to promote maximum employment and price stability.