BANKING AFFAIRS

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 Federal Reserve Banks are not a part of the federal government, but they exist because of an act of Congress. Their purpose is to serve the public. So is the Fed private or public? The answer is both.

Detailed explanation-3: -The Fed provides the country with a safe, flexible, and stable monetary and financial system. The Fed’s main duties include conducting national monetary policy, supervising and regulating banks, maintaining financial stability, and providing banking services.

Detailed explanation-4: -Why is the Fed often referred to as a “lender of last resort, ” or the last lender to turn to in a crisis? It offers banks financial protection to keep consumers from panicking.

Detailed explanation-5: -The answer is A. The U.S Federal Reserve is responsible for the monetary and money supply. The Fed makes sure the economy is healthy and regulates the amount of money floating within the economy.