The Federal Reserve Act did all of the following EXCEPT:
A) made currency and bank credit more elastic
B) created twelve Federal Reserve banks
C) lessened the power of the huge New York banks
D) was the first major banking and currency reform in half a century
E) shifted the U.S. Treasury back to the gold standard

Question

Quizplus · Accepted Answer

The Federal Reserve Act did not shift the U.S. Treasury back to the gold standard, but rather allowed for the flexibility of the U.S. currency and bank credit.

The Federal Reserve Act Did All of the Following EXCEPT