Question

The Federal Reserve is responsible for overseeing all __________. A. income tax refunds B. changes in tax policies C. government spending D. depository institutions

Answer 1

The Federal Reserve is responsible for overseeing all the government spending (C)

The Federal Reserve deals with the economy and the federal banks

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Answer 2

Answer:

The correct answer is D. The Federal Reserve is responsible for overseeing all depository institutions.

Explanation:

The Federal Reserve System is the central bank of the United States. It is a public / private consortium that controls the economic organizational structure of the United States, in which a governmental agency participates, known as the Board of Governors, based in Washington DC. Thus, some consider this as the public aspect of the system, and the 12 Reserve Banks of the entire country are considered the private aspect. It is in charge of guarding part of of the reserves of the American "member banks": the federal ones, and the state ones associated voluntarily, as well as controlling the actions of those banks.