When the Fed Was Created in 1913

Multiple Choice

When the Fed was created in 1913,

A) it had no role in the management of the nation's economy.
B) it was restricted to providing emergency loans to financial institutions.
C) it adhered to a strictly supply-side policy focus.
D) its primary economic management tool was to reduce inflation by restricting the money supply.
E) it was far more likely to increase the money supply by lowering interest rates than to restrict it by raising them.