Federal Reserve Bank of Chicago facts for kids
Federal Reserve Seal
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Headquarters
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| Headquarters | 230 S LaSalle Street Chicago, IL, USA |
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| Established | May 18, 1914 |
| President | Charles L. Evans |
| Central bank of | |
| Website | www.ChicagoFed.org |
| The Federal Reserve Bank of Chicago is one of 12 regional banks that make up the Federal Reserve System | |
The Federal Reserve Bank of Chicago (often called the Chicago Fed) is a very important part of the United States' central bank. It is one of twelve regional banks that work together with the Board of Governors in Washington, D.C. Their main job is to help keep the country's money system healthy and stable.
What Does the Chicago Fed Do?
The Chicago Fed helps manage money and banking for a large area. This area is called the Seventh Federal Reserve District. It includes all of Iowa, the northern parts of Illinois and Indiana, southern Wisconsin, and the Lower Peninsula of Michigan.
The Federal Reserve System, including the Chicago Fed, works to make sure banks are safe and sound. They also help keep prices stable and encourage economic growth. They do this by influencing how much money is available and what interest rates are like.
Who Leads the Chicago Fed?
The current president of the Federal Reserve Bank of Chicago is Charles L. Evans. He started his role on September 1, 2007. As president, he is also the chief executive officer of the bank. He helps make important decisions about money and banking for the district and the country.
Images for kids
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Map of the Seventh District served by the Chicago Fed.
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The Money Museum shows the history of the Federal Reserve Bank and old money.
See also
In Spanish: Banco de la Reserva Federal de Chicago para niños
