ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Regulates the amount of money.
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Supervises Banks.
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Provides Financial Services.
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All of the above.
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Detailed explanation-1: -Its core responsibilities include setting interest rates, managing the money supply, and regulating financial markets. It also acts as a lender of last resort during periods of economic crisis, as demonstrated during the 2008 financial meltdown and the COVID-19 pandemic.
Detailed explanation-2: -The Board of Governors in Washington, D.C., is an agency of the federal government and reports to and is directly accountable to the Congress. The Federal Reserve derives its authority from the Congress, which created the System in 1913 with the enactment of the Federal Reserve Act.
Detailed explanation-3: -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-4: -Jerome H. Powell, Board of Governors, Chair. John C. Williams, New York, Vice Chair. Michael S. Barr, Board of Governors. Michelle W. Bowman, Board of Governors. Lisa D. Cook, Board of Governors. Austan D. Goolsbee, Chicago. Patrick Harker, Philadelphia. Philip N. Jefferson, Board of Governors. More items •02-Mar-2023