Many Americans believe in the necessity of the Federal Reserve due to its role in stabilizing our economy. It manages monetary policy, thus preventing inflation from spiraling out of control or deflation from stifling growth. The Fed also supervises and regulates banks, ensuring a safe, sound, and accessible banking system. Additionally, it steps in during financial crises to provide liquidity and prevent bank runs. Essentially, the Federal Reserve is seen as a guardian of economic balance and financial security.