ECONOMICS
FEDERAL RESERVE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the purpose of the Federal Reserve System?
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to store the gold and silver reserves that back the US currency
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to provide federal insurance to safeguard the deposits in the banks
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to make loans to banks, issue currency, and regulate the money supply
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to deregulate banks and savings and loans instituitons
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Explanation:
Detailed explanation-1: -The U.S. government created the Federal Reserve, the nation’s central bank, in order to manage the money supply and prevent economic calamities. One of the main purposes of the Federal Reserve is to act as the lender of last resort, allowing banks to borrow from the central bank when needed.
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