ФЕДЕРАЛЬНА РЕЗЕРВНА СИСТЕМА США: ЇЇ РОЛЬ В ЕКОНОМІЧНОМУ ЖИТТІ КРАЇНИ ТА ВПЛИВ НА ВАЛЮТНО-ФІНАНСОВУ СИСТЕМУ СВІТУ

The article explores the role of the Federal Reserve System (Fed) of the United States as a key component of U.S. economic policy and a major factor influencing the global monetary and financial system. The relevance of the study is driven by the need for a deeper understanding of the complex mechanisms through which the Fed regulates the monetary sector, ensures macroeconomic stability, responds to crisis phenomena, and shapes market expectations both domestically and internationally. Special attention is paid to the Fed’s actions in the context of contemporary global challenges, including rising inflationary pressures, increasing geopolitical instability, financial liquidity crises, shifts in the structure of international reserves, and the emergence of central bank digital currencies (CBDCs). The purpose of the research is to provide a systematic analysis of the Fed’s institutional framework, core functions, and key monetary instruments, as well as to assess the scale and directions of its impact on domestic economic processes in the United States and on cross-border dynamics within the global monetary and financial system. The primary objectives of the study include a historical overview of the Fed’s creation and evolution; examination of its modern institutional architecture (particularly the roles of the Board of Governors, regional Reserve Banks, and the Federal Open Market Committee); analysis of monetary regulation practices under conditions of economic volatility; and identification of the Fed’s influence on global capital flows, exchange rate fluctuations, and inflationary trends across economies with varying levels of development. Methodologically, the study employs structural-functional and comparative analysis approaches, along with statistical data processing from authoritative open sources such as the Federal Reserve Bank of St. Louis, the International Monetary Fund (IMF), the U.S. Bureau of Economic Analysis (BEA), and the Bureau of Labor Statistics (BLS). The paper focuses on the activity of the Federal Open Market Committee (FOMC), particularly its interest rate decisions, which act as powerful signals for global financial markets, institutional investors, central banks in emerging economies, and countries whose currency stability depends on the U.S. dollar’s trajectory. The findings of the study demonstrate that the Federal Reserve not only fulfills the classical functions of a central bank—such as inflation control and financial system oversight—but also plays the role of a global monetary coordinator. Due to the U.S. dollar’s dominance in international settlements and reserve assets, Fed policy can set global monetary conditions regardless of the policy stances of other nations. This greatly enhances the Fed’s international significance but also generates systemic risks for economies with a high level of external financial vulnerability.