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1. (n.) Federal Reserve System
a U.S. federal banking system that is under the control of a central board of governors
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| Definition of 'federal reserve system' |
Princeton's WordNet |
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1. (noun) Federal Reserve System, Federal Reserve, Fed, FRS
the central bank of the United States; incorporates 12 Federal Reserve branch banks and all national banks and state-chartered commercial banks and some trust companies
"the Fed seeks to control the United States economy by raising and lowering short-term interest rates and the money supply"
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Definitions of federal reserve system 
