Which one of these has the authority to set interest rates and lending activities for the nation's
Most important banks?
A)the Federal Reserve System
B)the Secretary of the Treasury
C)the Internal Revenue Service
D)the Federal Deposit Insurance Corporation

Question

Quizplus · Accepted Answer

The Federal Reserve System, also known as the Fed, is responsible for setting interest rates and regulating lending activities for the nation's most important banks. This is one of the key functions of the Fed, which was established in 1913 to help stabilize the economy and promote sustainable growth. The Secretary of the Treasury, the Internal Revenue Service, and the Federal Deposit Insurance Corporation all have important roles in the financial sector, but none of them have the authority to set interest rates or lending activities for banks.

Which One of These Has the Authority to Set Interest