ECONOMICS
FEDERAL RESERVE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Federal Reserve Bank
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Bank of America
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First Bank of the United States
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National Bank of the United States
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Detailed explanation-1: -The U.S. central banking system-the Federal Reserve, or the Fed-is the most powerful economic institution in the United States, perhaps the world. Its core responsibilities include setting interest rates, managing the money supply, and regulating financial markets.
Detailed explanation-2: -As a banker to the Government, the Reserve Bank receives and pays money on behalf of the various Government departments. The Reserve Bank also undertakes to float loans and manage them on behalf of the Governments.
Detailed explanation-3: -Federal Reserve Board-Federal Reserve Banks.
Detailed explanation-4: -In its role as the central bank of the United States, the Fed serves as a banker’s bank and as the government’s bank.