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The Federal Reserve System works to promote the effective operation of the U.S. economy and, more generally, to serve the public interest. The specific duties of the Fed have changed over time as banking and economics have evolved.


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Community Development

The Federal Reserve advances supervision, community reinvestment, and research to improve understanding of the impacts of financial services policies and practices on consumers and communities.

FOMC participants gather in the Board room at the Eccles Building in Washington, D.C., March 2014.
Monetary Policy

The Federal Reserve sets U.S. monetary policy to promote maximum employment and stable prices in the U.S. economy.

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Financial System Stability

The Federal Reserve monitors financial system risks and engages at home and abroad to help ensure the system supports a healthy economy for U.S. households, communities, and businesses.

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Payment Systems

The Federal Reserve works to promote a safe, efficient, and accessible system for U.S. dollar transactions.

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Supervision and Regulation

The Federal Reserve promotes the safety and soundness of individual financial institutions and monitors their impact on the financial system as a whole.