Which of the following was the Fed's primary function when it first was created in 1913?

Question

Quizplus · Accepted Answer

The primary function of the Fed when it was first created in 1913 was to act as a lender of last resort, providing loans to banks during times of financial stress to prevent bank failures and panics. This was seen as a way to stabilize the banking system and prevent economic disruptions. While the Fed has taken on additional roles over time, such as conducting monetary policy and regulating banks, its original function as a lender of last resort remains a key component of its mandate.

Which of the Following Was the Fed's Primary Function When