Question

Which of the following serves as the central bank for the United States?

A. the Federal Reserve System
B. the Treasury Department
C. the Federal Deposit Insurance Corporation
D. the Congress

Answer 1

The correct answer is, clearly, ‘A’. It is, indeed, the Federal Reserve System the corresponding authority in charge of all the main national central bank functions. This particular central banking has been legally established and, therefore, on duty since 1913. Logically, the System has got more powerful throughout the century (among other causes, because of the imperative need to take care of the 1929’s financial crisis).