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

Question

Quizplus · Accepted Answer

The Federal Reserve Act, enacted in 1913, created a new type of paper currency, known as Federal Reserve Notes, which are still in use today as the United States' main form of currency.