Government Performance and Results Act (GPRA)
Accessible Version - Strategic Plan 2024–27 - December 2023
Figure 1. The Federal Reserve System
The Federal Reserve is unique among central banks. By statute, Congress provided for a central banking system with public and private characteristics. The System performs five functions in the public interest.
Figure uses a pyramid of graphics to describe the Federal Reserve System. Top level: There is 1 U.S. Central Bank: The Federal Reserve System. Second level: The 3 Key Entities of the Federal Reserve System: Federal Reserve Board of Governors, 12 Federal Reserve Banks, and the Federal Open Market Committee. Third level: The 5 Key Functions of the Federal Reserve System: Conducting the nation's monetary policy, helping maintain the stability of the financial system, supervising and regulating financial institutions, fostering payment and settlement system safety and efficiency, and promoting consumer protection and community development.