The Federal Reserve System
A) was recently declared unconstitutional by the Supreme Court.
B) has officers that are elected, like members of Congress.
C) controls the amount of currency in circulation.
D) is headquartered in San Francisco.

Question

Quizplus · Accepted Answer

The Federal Reserve System, often referred to as the Fed, is responsible for controlling the amount of currency in circulation. It does this by setting interest rates, buying and selling government securities, and creating new money through a process called open market operations. The Fed is not elected and does not have a headquarters in San Francisco. It has not been declared unconstitutional by the Supreme Court.