The Federal Reserve was established in 1913 to

Question

Quizplus · Accepted Answer

The primary purpose of the Federal Reserve was to act as a lender of last resort during bank panics to prevent the collapse of the banking system. While the Fed does have tools to regulate the money supply and influence the economy, those were not its primary reasons for establishment. The requirement for banks to hold reserves is also a tool used by the Fed, but it is not the primary reason for its establishment.

The Federal Reserve Was Established in 1913 to