Federal Reserve Headquarters, District of Columbia

The Federal Reserve System is the central bank of the USA, established in 1913 to be a stabilizing force for the nation’s economy, after several financial panics exposed scary volatility. One of the bank’s chief powers is the ability to set interest rates, thus controlling inflation. Part of the function of the federal reserve was to process nearly every check and transfer of funds conducted by a US bank, which led to a nationwide information management system, communicating secure financial data between the twelve Federal Reserve Banks in different regions of the USA. This system helped compel innovation in secure data telecommunications and computer infrastructure. The Federal Reserve is controlled by the presidentially appointed board of governors, who meet at the Fed headquarters at the Eccles Building, in Washington DC.