Please help me identify this bike
 

I recently took advantage of the local freecycle program (recycling no longer wanted items via the internet to new homes for free) and got this bike. It is nearly 100% (some reflectors need replaced etc) but I can find NOTHING on the bike. It says Federal's on the tank and Jet Fire on the chain guard. I am just curious about the bike and plan on restoring it to it's former glory. The woman who gave it to me said she got it in the 70's, but otherwise I know nothing more. I am going to look for a serial number and if I find one I will post it here. (Pictures are with the front wheel still off, which I do have but removed to transport it in the car) The grips on the handlebars say Schwinn, but I don't think the bike is a Schwinn. Seat is not the origional but one she had purchased for comfort when she purchased the bike. PLEASE HELP!

Made by Murray. Did she claim she bought it new in the 70s? Because I would be open to believing it is from the mid to late 60s.

Yep. Bike looks fairly good in the pix.
http://cgi.ebay.com/Vintage-Murray-J...:B:SRCH:US:101

Federal's was a Michigan department store in the 1950's and 60's. It was eventually bought out by Kresge's, which became K-Mart. They may have been in other mid-Western states besides Michigan, as well, I'm not sure.

My guess is it was a rebranded Murray made for Federal's.

Thanks everyone. As to when she bought the bike, she may have bought it used, or prior to the 70's and just doesn't remember. All I know is it has sat in her garage for years. It is in ridable condition right now (after all the bearings are cleaned out and the chain is greased a little), but I am going to really shine it up before I ride it. I'd like to find a paint close to the origional and do some major restoring. Also, the headlights on front need replaced, so I'll be looking for that I guess. I'm wondering, should the tank open then?

I think for free, it's an excellent bike and will be beautiful when restored. Any advice on this would be welcome, as this will be my first restoration project.

I would just service bearings, etc., & clean & wax it VERY good. You may be surprised how nice it turns out.