Fed (fĕd)
n. Informal

1. 1. The Federal Reserve System.
   2. The Federal Reserve Board.
2. often fed A federal agent or official.

Federal Reserve System
n.
A U.S. banking system that consists of 12 federal reserve banks, with each one serving member banks in its own district. This system, supervised by the Federal Reserve Board, has broad regulatory powers over the money supply and the credit structure.

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The American Heritage® Dictionary of the English Language, Fourth Edition Copyright © 2007, 2000 by Houghton Mifflin Company. Updated in 2009. Published by Houghton Mifflin Company. All rights reserved.

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