Question

What are 3 duties of the Federal Reserve?

Answer 1

Answer:

There are three key entities in the Federal Reserve System: the Board of Governors, the Federal Reserve Banks (Reserve Banks), and the Federal Open Market Committee (FOMC).

Explanation:

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Answer 2

Answer:

Explanation:

The Federal Reserve Board analyzes domestic and international economic developments, supervises and regulates the operations of the Federal Reserve Banks, has responsibility for America's payments system, and oversees and administers most consumer credit protection laws. The board of governors has seven of the 12 seats on the Federal Open Market Committee, which determines U.S. monetary policy. The board alone has authority over changes in reserve requirements, and it must approve any change in the discount rate initiated by a Federal Reserve Bank.

Members of the board frequently

testify before congressional committees on the economy, monetary policy, banking supervision and regulation, consumer credit protection and financial markets. In addition, they are responsible for supervising the work of the regional Fed banks, including approving budgets and appointing directors.