All of the following are powers of the Federal Reserve System except
A)the ability to buy and sell government securities
B)the authority to issue Federal Reserve notes
C)the responsibility to clear checks
D)the obligation to make loans to the general public
E)the power to set the reserve requirement for banks

Question

Quizplus · Accepted Answer

The Federal Reserve System does not have the obligation to make loans to the general public. Its main functions include conducting monetary policy, supervising and regulating banks, and providing various financial services. However, it does have the power to influence the availability of credit and money in the economy through its policies and actions.

All of the Following Are Powers of the Federal Reserve