Federal Reserve, Federal Reserve System, FRS, Fed - the central bank of the United States; incorporates 12 Federal Reserve branch banks and all national banks and state charted commercial banks and some trust companies; "the Fed seeks to control the United States economy by raising and lowering short-term interest rates and the money supply"

bank, banking company, banking concern, depository financial institution - a financial institution that accepts deposits and channels the money into lending activities; "he cashed a check at the bank"; "that bank holds the mortgage on my home"