Question

1. All but one president of the regional Reserve Banks rotates a voting position on the Federal Open Market Committee (FOMC). Which president has permanent voting privileges?





a. Federal Reserve Bank of St. Louis





b. Federal Reserve Bank of Chicago





c. Federal Reserve Bank of New York





d. Federal Reserve Bank of San Francisco



2. Which part of the Federal Reserve System serves the daily needs of banks across the country?





a. FOMC





b. Reserve Banks





c. Board of Governors





d. The U.S. Department of the Treasu

Answer 1

2)B reserve banks