Role is to keep banks secure and to prevent financial panic

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Reference no: EM131073800

The Federal Reserve was created in 1913 to oversee banking activities in the United States. It is, in effect, a banker's bank. Its role is to keep banks secure and to prevent financial panic. It has several functions: to control the money supply, to clear checks, to supervise and regulate banks, to maintain and circulate currency, to protect consumers, and to maintain federal accounts and gold.

A. Does the Federal Reserve have too much power or do they need more power?

B. What else, if anything, could be added to the Fed's responsibilities?

C. What, if anything, should be taken away from the Fed's responsibilities?

Reference no: EM131073800

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