ECONOMICS
FEDERAL RESERVE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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New York
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Chicago
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Minneapolis
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San Diego
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Detailed explanation-1: -The Reserve Banks are decentralized by design and are located in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco.
Detailed explanation-2: -Which of the following cities do NOT have a regional Federal Reserve Bank? Washington, D.C. Which of the following functions does each of the 12 regional Federal Reserve Banks play? The Federal Open Market Committee (FOMC) is a part of the Federal Reserve System that conducts monetary policy.
Detailed explanation-3: -In the given statement, the council of economic advisers is not a part of the federal reserve system as they cannot advise the federal banks on the monetary policies.
Detailed explanation-4: -Eccles Building, Washington, D.C., U.S.