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The phrase "the fed" is correct and usable in written English
It is typically used to refer to the Federal Reserve System, the central banking system of the United States.
Example: "The fed announced a change in interest rates during their latest meeting."
Alternatives: "the Federal Reserve" or "the central bank."
Dictionary
the fed
noun
A federal government officer or official, especially FBI and DEA agents.
Exact(60)
The Fed resisted.
The Fed hasn't tightened.
The Fed will listen.
The Fed considers QE3.
The Fed should comply.
We're not eliminating the Fed.
The Fed appeared to agree.
But the Fed won't move.
The Fed interview is fascinating.
The Fed considers "Operation Twist".
The Fed had other options.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com