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

Question

Quizplus · Accepted Answer

The Federal Reserve System (also known as the Fed) has the authority to set interest rates and lending activities for the nation's most important banks. This is one of the primary functions of the Fed, which acts as the central bank of the United States. The Fed's decisions can have a significant impact on the economy, as they can influence the amount of money in circulation and the cost of borrowing. The other options listed (secretary of the Treasury, Internal Revenue Service, and Federal Deposit Insurance Corporation) do not have the authority to set interest rates and lending activities for banks.

Who Has the Authority to Set Interest Rates and Lending