The Federal Reserve, commonly referred to as the "Fed," is the central bank of the United States. Its primary role is to promote a stable and healthy economy by implementing monetary policy, supervising and regulating banks and other financial institutions, and maintaining the stability of the financial system. The Fed sets interest rates and the money supply, which impacts borrowing costs and overall economic activity. It also acts as a lender of last resort during financial crises, providing support to financial institutions to prevent a panic. The Fed works to ensure low and stable inflation, maximum employment, and moderate long-term interest rates, contributing to economic growth and stability. The Fed's decisions and actions can have a significant impact on the US economy and financial markets.