BUSINESS ADMINISTRATION
BUSINESS POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the “tax collector”
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the “Fed”
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the “big bank”
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the “big apple”
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Detailed explanation-1: -The Federal Reserve System, often referred to as the Federal Reserve or simply “the Fed, ” is the central bank of the United States. It was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system.
Detailed explanation-2: -The Fed, as the nation’s monetary policy authority, influences the availability and cost of money and credit to promote a healthy economy. Congress has given the Fed two coequal goals for monetary policy: first, maximum employment; and, second, stable prices, meaning low, stable inflation.
Detailed explanation-3: -Federal Reserve Banks are often called the “bankers’ banks” because they provide services to commercial banks similar to the services that commercial banks provide for their customers. Federal Reserve Banks distribute currency and coin to banks, lend money to banks, and process electronic payments.