Final answer:
The 12 Federal Reserve Banks are quasi-public banks, which blend private ownership and public control. The Federal Reserve was established as the nation's central bank to serve as a bank for banks, to regulate the banking industry, and to regulate the money supply.
Step-by-step explanation:
The 12 Federal Reserve Banks are quasi-public banks, which blend private ownership and public control.
The Federal Reserve was established as the nation's central bank to serve as a bank for banks, to regulate the banking industry, and to regulate the money supply. It includes both federally and private-sector appointed leaders.
While the Federal Reserve is privately owned, it operates under public control and supervision to ensure the stability and integrity of the financial system.