Federal Reserve Board

The Federal Reserve Board (also known as the Fed) is the central banking system of the United States. It was created in 1913 by Congress as a way to provide stability and liquidity to the financial system. The Fed is responsible for setting monetary policy, which means it decides the level of interest rates and regulates the supply of money in the economy. This includes setting the federal funds rate, which is the rate at which banks lend money to each other overnight. The Federal Reserve Board's monetary policy decisions have a big impact on credit card rates. When the federal funds rate goes up, credit card rates usually go up as well. And when the federal funds rate goes down, credit card rates usually go down, too.

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