The Federal Reserve's lender-of-last-resort function has been curtailed over time by the:
A)public.
B)very financial institutions that it is meant to serve.
C)governor of the Federal Reserve.
D)Dodd-Frank Act.

Question

Quizplus · Accepted Answer

The Dodd-Frank Act, enacted in response to the 2008 financial crisis, introduced significant changes to financial regulation in the United States, including measures that limited the Federal Reserve's ability to provide emergency financial assistance to individual companies, thereby curtailing its lender-of-last-resort function.

The Federal Reserve's Lender-Of-Last-Resort Function Has Been Curtailed Over Time