Abstract
As the central bank of the United States, the Federal Reserve performs three basic functions. It conducts monetary policy, supervises and regulates member banks, and provides various services to the public, the Treasury, and commercial banks. These functions are performed by the Federal Reserve System’s Board of Governors in Washington, the 12 regional Reserve Banks located in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas and San Francisco, and the 25 branches of the regional banks.
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