What is the central banking system of the United States called?

The central banking system of the United States is called the Federal Reserve System.

The US Congress created the Federal Reserve through the Federal Reserve Act of 1913, following repeated financial panics and debates about how the country should organize its banking system. The system began operating in 1914.

Unlike a single national bank with one main operating office, the Federal Reserve combines a Board of Governors in Washington, DC, with 12 regional Federal Reserve Banks. The Federal Open Market Committee sets national monetary policy, including decisions about the federal funds rate target.

The Federal Reserve is often shortened to “the Fed.” It is not the same as the US Treasury: the Treasury is a government department responsible for fiscal and financial administration, while the Federal Reserve is the nation’s central banking authority.