Seal of the Board of Governors of the United States Federal Reserve System.
This version of the seal mostly dates from 1935, when that year's Banking Act changed the official name from "Federal Reserve Board" to "Board of Governors of the Federal Reserve System", meaning the seal had to be redone.  Paul Philippe Cret, who had designed and was building the Eccles Building (the Board's headquarters) at the time, arranged the eagle, shield, and inscriptions.  The Board added the ring of stars to represent the states (48 at the time, now 50).[1]

The seal contains a Federal eagle and shield, and branches of olive and oak (all symbols found on other federal seals).  The twelve stars on the shield presumably represent the twelve federal reserve banks.
Extracted from PDF file here, and colorized according to GIF file on this page (direct GIF URL [2]).
U.S. Government