Which of the following was not a responsibility of the early Federal Reserve System?
A) replace the National Banking system
B) improve the payments system
C) establish more rigorous bank supervision
D) act as "lender of last resort"

Question

Quizplus · Accepted Answer

The early Federal Reserve System was established to improve the payments system, establish more rigorous bank supervision, and act as a "lender of last resort," but it was not intended to replace the National Banking system.

Which of the Following Was Not a Responsibility of the Early