The element with the chemical symbol 'Fe' is iron. Iron is a significant and abundant metal in the Earth's crust and is vital for various biological processes. Its symbol comes from the Latin word "ferrum." It is widely used in construction, manufacturing, and the production of steel due to its strength and durability. In biological systems, iron is an essential component of hemoglobin, which transports oxygen in the blood. Therefore, maintaining adequate levels of iron is crucial for overall health, as iron deficiency can lead to anemia and related health issues.