<u>The option (B) is correct. The Department of the treasury is not the core component of the Federal Reserve Bank.
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Further Explanation:
The central bank of the United States is the Federal Reserve Bank. It was founded in 1913 to provide the nation with a stable financial and monetary system by Congress. The primary function of the central bank is:
• Monetary Policy
• Banking Supervision
• Financial Services
Justification for the correct and incorrect option:
A.
Federal Open Market Committee: This option is incorrect.
It is the Federal bank's monetary policy-making body. The key responsibility of the federal open market committee is to formulate a policy that helps to promote economic growth and stable prices.
B.
Department of the Treasury: This option is correct.
It is responsible for the management of Federal finances by and paying bills and collecting taxes and also managing public debt and government accounts. This is not the federal reserve component.
C.
Regional Federal Reserve: This option is incorrect
There are 12 Federal Reserve Banks and 24 branches making up the whole Federal Reserve System which supervised by the Board of Governors
D.
Board of Governors: This option is incorrect.
The Board of Governors is also known as the Federal Reserve Board. It is one of the components of the Federal Reserve System. The key responsibilities of the Board of Governors are to provide guidance in monetary policy action and analyze international and domestic financial and economic conditions.
Learn more:
1. Learn more about the low liquidity bank accounts
brainly.com/question/2953973
2. Learn more about the traditional saving account
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3. Learn more about the role of money
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Answer details:
Grade: High School
Subject: Economics
Chapter: Money and Banking
Keywords: Federal Reserve Bank, Federal Open Market Committee, Department of the Treasury, Regional Federal Reserve, Board of Governors.
