Other than its main role of controlling the supply of money, the functions of the federal reserve include

The Federal supervises and regulates a lot of the nation’s banks to secure consumers. It preserve the stability of the financial markets and constrains possible crises and it provides banking services to other banks, the U. S. government and foreign banks. The Fed moderates long-term interest rates through open market operations and the fed funds rate. The goal of monetary policy is healthy economic growth. That target is a 2-3 percent gross domestic product growth.