Federal Reserve (The Fed)

The Federal Reserve is the US central bank, tasked by Congress with a dual mandate of stable prices and maximum employment. It carries out that mandate mainly by setting short-term interest rates and, at times, by buying or selling large quantities of bonds.

Markets parse every Fed statement and press conference for hints about the future rate path, because that path drives borrowing costs, bond yields, and the discount rate used to value future stock earnings all at once. Few single institutions move markets more consistently on a predictable schedule.