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Why The Federal Reserve's Power Is 'Limitless'
FiveThirtyEight Politics
The Fed Is America's Central Bank
The Fed is America's central bank. It determines how much we all pay to borrow and spend in the economy. The goal of that is to either speed things up in bad times or slow them down in good times with an end goal of maximizing employment but at sort of a sustainable rate. Its other big job, well, it has two more. It's two other big jobs are maintaining sort of a stable financial structure which really boils down to bank regulation. And then its final role is really stepping in when there's a financial crisis and making sure that markets can still function.
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