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Define federal. federal synonyms, federal pronunciation, federal translation, English dictionary definition of federal. adj. 1. Of, relating to, or being a form of government in which a union of states recognizes the sovereignty of a central authority wh
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There are 12 Federal Reserve districts, each with its ownFederal Reserve Bank. These regional banks operate as extensions of the central bank. The president of the Federal Reserve Bank of New York serves continuously while the presidents of the others serve one-year terms on a three-year rotati...
The Federal Reserve System, commonly known as the Fed, is the central bank of the U.S., which regulates the U.S. monetary and financial system.