The Federal Reserve I. clears all checks. II. makes monetary policy. III. supervises the banking sector.
A) I only
B) I and II only
C) II and III only
D) I, II, and III

Question

Quizplus · Accepted Answer

The Federal Reserve is responsible for making monetary policy and supervising the banking sector, but it does not clear all checks. Check clearing is typically done by individual banks or entities such as the Federal Reserve Bank of Atlanta.