Asked by Reginald Joseph on May 18, 2024
Verified
Which of the following Federal Reserve Banks is most instrumental in carrying out the policy directives of the Board of Governors?
A) The Federal Reserve Bank of Richmond
B) The Federal Reserve Bank of St.Louis
C) The Federal Reserve Bank of San Francisco
D) The Federal Reserve Bank of New York
Federal Reserve Bank of New York
One of the 12 Federal Reserve Banks in the United States, playing a key role in monetary policy, financial supervision, and economic research.
Board of Governors
The executive leadership of a central banking system, such as the Federal Reserve in the United States, responsible for setting monetary policies and overseeing affiliate banks.
- Gain insight into the makeup and duties of the Federal Open Market Committee (FOMC) and the Board of Governors.
Verified Answer
MC
Malcolm CasonMay 23, 2024
Final Answer :
D
Explanation :
The Federal Reserve Bank of New York is the most instrumental in carrying out the policy directives of the Board of Governors as it is responsible for implementing monetary policy decisions, executing open market operations, and overseeing the financial institutions in its district, which includes Wall Street.
Learning Objectives
- Gain insight into the makeup and duties of the Federal Open Market Committee (FOMC) and the Board of Governors.