Frb
In short
The Federal Reserve Board is the governing body of the central bank of the United States. It sets monetary policy to manage inflation and employment levels.
In plain words
It is a group of people who decide how much money should flow through the US economy. They change interest rates to keep prices stable and help people find jobs.
A simple example
If prices for food and fuel rise too quickly, the FRB might raise interest rates. This makes borrowing money more expensive, which helps slow down spending and lower inflation.
Why it matters
Decisions made by the FRB affect the cost of loans and mortgages worldwide. Because the US dollar is a global reserve currency, their actions influence international trade and markets.
Easy to mix up
Do not confuse the FRB with the Federal Reserve System, which includes the twelve regional banks.