In the United States,only Federal Reserve Banks can issue paper currency but their power to do so is virtually unlimited.

Question

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The power to issue paper currency in the United States is primarily held by the Federal Reserve Banks. While their power is subject to certain limitations, it is generally considered to be broad and flexible. However, other entities such as national banks and certain state-chartered banks are also authorized to issue currency under certain circumstances.

In the United States,only Federal Reserve Banks Can Issue Paper