Since President Trump took office, the Federal Reserve has gotten even more airtime, as Trump has questioned the Fed's authority and criticized its decisions. But what actually is

Richard Sharrocks / Getty Images In 1913, the Federal Reserve Act established the Federal Reserve System (FRS), an independent governmental entity that would serve as a central bank to the U.S ...

The Federal Reserve system plans to reduce its staff count by 10% over the coming years, primarily through attrition, its leader told employees in an internal memo Friday. Why it matters: The Fed is structured to be independent from the executive branch,

The Federal Reserve plans to shrink its system-wide workforce by about 10% over the next couple of years, mainly through attrition.

The Federal Reserve aims to cut 10% of its workforce over the next several years, Chair Jerome Powell told employees in a memo—following suit with the Trump administration’s efforts to reduce the size of the federal workforce despite the agency’s independence from the executive branch.

The Federal Reserve is planning to reduce staffing by 10% in the years ahead, Chair Jerome Powell said in a memo to employees seen by The Wall Street Journal.