The Fed's founders viewed the Fed as a means of maintaining the money supply during economic contractions and as a lender of last resort.

Question

Quizplus · Accepted Answer

This is accurate according to the Federal Reserve's official history. The Fed was created in 1913 to serve as a "lender of last resort" to prevent bank failures during economic downturns, as well as to control the money supply through monetary policy.

The Fed's Founders Viewed the Fed as a Means of Maintaining