The Federal Reserve System
Damien Porte Finance The Federal Reserve System The Federal Reserve System, better known as the fed, is a federal agency that was created in 1913. The aim was to give the government some control over banking, which at that time was unregulated. The main roles of the fed were set as organizing the production and the supply of money, and more importantly, to set the fed fund rate (the rate at which bank can borrow money).