Question

Which of the following is not one the responsibilities of the federal reserve

Answer 1

The answer to this question is:  Establishing the federal budget
The federal budget is first created by President and his/her personal team members. After that, the president has to submit the proposal of the budget to the congress. If the Congress gave an okay sign, The House and Senate will pass budget resolutions.

Answer 2

The following is not one the responsibilities of the federal reserve: D. Establishing the federal budget

Further explanation

The Fed is the most important economic player in the world. The Fed controls the money supply and credit conditions in the United States.The Fed in turn has a major impact on the global economy.  

On December 23, 1913, the Federal Reserve System was created by an Act of Congress. The System consists of  7 member Board of Governors with headquarters in Washington, D.C., and  12 Reserve Banks located throughout the United States.

The responsibilities of the Federal Reserve include influencing the supply of money and credit; regulating and supervising financial institutions; serving as a banking and fiscal agent for the United States government; and supplying payments services to the public through depository institutions like banks, credit unions, and savings and loans. Payments services include issuing, transferring and redeeming U.S. government securities, processing and clearing checks, and transferring funds.

The Federal Reserve also performs general functions: conducting the nation's monetary policy, regulating banking institutions, monitoring and protecting the credit rights of consumers, maintaining the stability of the financial system, and providing financial services to the U.S. government.

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Answer details

Grade:  9

Subject: SAT

Chapter:  the federal reserve

Keywords:  the federal reserve