The Federal Reserve Act
A) created a new type of paper currency.
B) helped to reduce loans to private banks.
C) was designed to push troubled banks out of business.
D) was regulated by a board whose members were elected by Congress.
E) created sixteen regional banks.

Question

Quizplus · Accepted Answer

The Federal Reserve Act created a new type of paper currency known as Federal Reserve Notes, which became the standard currency in the United States.