The Federal Reserve System is the central bank of the United States, with five key functions to promote the effective operation of the U.S. economy and the public interest. These functions include conducting monetary policy, promoting financial system stability, supervising financial institutions, fostering payment and settlement system safety and efficiency, and promoting consumer protection and community development. The Financial Stability Report provides an overview of the current state of the U.S. financial system and potential risks, with a focus on asset valuations.
