ECONOMICS
MONETARY POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the Consumer Financial Protection Bureau
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the Federal Open Market Committee
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the reserve banks
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the Board of Governors
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Detailed explanation-1: -There are three key entities in the Federal Reserve System: the Board of Governors, the Federal Reserve Banks (Reserve Banks), and the Federal Open Market Committee (FOMC).
Detailed explanation-2: -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-3: -The Federal Reserve advances supervision, community reinvestment, and research to improve understanding of the impacts of financial services policies and practices on consumers and communities.
Detailed explanation-4: -Answer and Explanation: The Fed does not provide banking services to consumers. It is tasked with oversight over the banking sector, regulating the money supply in the economy and implementing monetary policies.