Stock Futures Steady Ahead of Key Economic Signals: Jobs Data and Tariff Watch

## Overview and Mission The Federal Reserve, often called the "Fed," is the central bank of the United States, established by Congress in 1913 to provide the nation with a safer, more flexible, and stable monetary and financial system[1]. Its mission centers on a dual mandate from Congress: to promote maximum employment and maintain price stability, ensuring the dollar retains its value over time[1]. The Fed operates through a unique hybrid structure, combining a national Board of Governors in Washington, D.C., with 12 independent regional Reserve Banks, including institutions like the Cleveland Fed[1]. This decentralized setup allows the Fed to closely monitor economic conditions across diverse regions, industries, and communities, while maintaining independence from short-term political influences[1]. ## Key Functions The Fed’s responsibilities are broad and vital to the U.S. economy. It conducts monetary policy—primarily by influencing interest rates—to achieve its employment and inflation goals[2]. The Fed also supervises and regulates banks to ensure the safety and soundness of the financial system, works to minimize systemic risks, and fosters efficient payment and settlement systems[2]. Additionally, it promotes consumer protection and community development, addressing emerging issues through research, supervision, and enforcement of consumer laws[2]. ## History and Evolution The Federal Reserve is the third central bank in U.S. history, following two failed attempts in the 19th century[1]. Its creation was a response to the financial turbulence of the early 20th century, aiming to prevent crises and stabilize the economy. Over time, the Fed has evolved, adopting more transparent and inclusive policymaking processes. For example, it now conducts regular reviews of its monetary policy framework, engaging with academics, businesses, and the public to refine its strategies and communications[3][5]. ## Recent Developments and Achievements In 2025, the Fed completed its second major review of its monetary policy strategy, tools, and communications, reaffirming its commitment to transparenc

The **Supreme Court of the United States**, commonly referred to as SCOTUS, is the highest court in the U.S. federal judiciary. Established by Article III of the U.S. Constitution, it plays a pivotal role in interpreting the Constitution and federal laws, ensuring their alignment with the founding document. ## Organization and History Founded in 1789, the Supreme Court initially consisted of a Chief Justice and five Associate Justices. Over time, the number of justices has fluctuated, settling at nine in 1869[4]. The Court's primary function is to adjudicate cases involving federal law and the Constitution, with the power to review and overturn decisions from lower courts[1][6]. It also has original jurisdiction in cases involving ambassadors, consuls, and disputes between states[1]. ## Key Achievements One of the Supreme Court's most significant achievements is the establishment of judicial review through the landmark case **Marbury v. Madison** in 1803. This decision allowed the Court to invalidate laws deemed unconstitutional, setting a precedent for its role in checking the legislative and executive branches[1][2]. ## Current Status Today, the Supreme Court continues to play a crucial role in shaping U.S. law and policy. It meets annually from October to June or July, reviewing thousands of petitions and deciding around 80 cases each year[1][2]. The Court's decisions often have profound impacts on business and technology, influencing regulatory environments and legal frameworks. ## Notable Aspects - **Independence**: Justices are appointed for life, ensuring the Court's independence from political pressures. - **Influence on Business and Technology**: Supreme Court rulings can significantly impact business practices and technological innovation by clarifying legal standards and regulatory frameworks. - **Symbolism**: The Court is symbolically important, with its motto "Equal Justice Under Law" reflecting its commitment to fairness and impartiality[3].