The Federal Reserve System

question 32

Multiple Choice

The Federal Reserve System

• A)was created in 1933.
• B)is run by a congressional committee.
• C)regulates only national banks.
• D)was created specifically to conduct fiscal policy.
• E)None of these answers is correct.

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Definitions:

Established

Refers to an entity or concept that has been in existence for a significant period and is widely recognized or accepted.

1913

The year marked by significant historical events, such as the establishment of the Federal Reserve System in the United States.

Four-Year Term

A period often associated with the duration of certain elected offices or specific agreements, notably used to denote the length of a presidential term in many countries.

Federal Reserve Act

The 1913 U.S. legislation that established the Federal Reserve System as the central banking authority, responsible for monetary policy and oversight of banks.