U.S. Census Bureau Daily Feature for December 23: Federal Reserve

WASHINGTON, Dec. 23, 2016 /PRNewswire-USNewswire/ -- Following is the daily "Profile America" feature from the U.S. Census Bureau:

FEDERAL RESERVE

Profile America — Friday, December 23rd. An institution that has been in the news a lot these past few years, and which has come in for its share of criticism during the nation's stubborn economic problems, observes the anniversary of its founding today. The Federal Reserve System, known simply as "the Fed," came into being on this date in 1913, with the job of keeping the nation's complex financial system in tune. Acting as the nation's central bank, "the Fed" influences the lending and investing activities of all banks, along with the availability of money and credit, all the way up to the national government. Backstopped by the Federal Reserve, there are more than 93,000 commercial banks in the U.S., performing transactions valued at over $390 billion a year. You can find more facts about America from the U.S. Census Bureau online at www.census.gov.

Sources:
Founding of the Federal Reserve/accessed 10/4/2016: http://www.federalreserve.gov/faqs/about_12594.htm 
Commercial Banking establishments/ NAICS 52211:
http://factfinder.census.gov/bkmk/table/1.0/en/BP/2014/00A1//naics~522110 
Revenues/NAICS 52211:
http://factfinder.census.gov/bkmk/table/1.0/en/ECN/2012_US/00A1//naics~522110

Profile America is produced by the Center for New Media and Promotion of the U.S. Census Bureau. Statistics and accounts drawn from cited non-Census sources are employed for illustrative or narrative purposes, and are not attested to by the U.S. Census Bureau. These daily features are available as produced segments, ready to air, on the Internet at http://www.census.gov (look for "Audio" in the "Library" pull-down menu). 

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SOURCE U.S. Census Bureau

Related Links

http://www.census.gov

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