Federal Reserve Bank is a very powerful central bank.
Federal Reserve Bank has tremendous influence over financial markets.
Surprisingly many traders have no idea how this bank works and sets its policy.
FOMC (Federal Open Market Committee) is the most important decision making body in the bank.
It meets every month and discuss the US economy and then takes monetary policy decision.
You can read how the Federal Reserve Bank works and it comparison with other banks.
You will be surprised to know Federal Reserve is a semi private bank.
Its main shareholders are some over 2000 commercial banks.
Federal Reserve is the most independent central bank in the world as compared to other banks.
You should understand how this bank works if you want to know why US Dollar is moving up or down.
Surprisingly Bank of England, Bank of Japan, Bank of Canada and European Central Bank don't enjoy as much autonomy as the FED.