What Is the Federal Reserve? – Spencer Tierney

If you follow the news about changes to savings or mortgage rates, you’ve probably heard of the Federal Reserve. It’s a powerful financial system, but as a banking consumer, you don’t interact with it directly. Here’s what you need to know. What is the Federal Reserve? The Federal Reserve System — also known as the…

Spencer Tierney writes for NerdWallet. Email: spencer.tierney@nerdwallet.com. Twitter: @SpencerNerd.

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