ANSWER:
The main duties of the Federal Reserve are
- Conduct the nation's monetary policy,
- Look over and regulate the banking operations
- Provide and maintain an effective system for payments and transactions.
Step-by-step explanation:
These functions are of utmost importance to maintain the growing economy of the nation. Firstly, they have to ensure maximum employment in the country and stable rates with moderate long term rates of interest.
By regulating the bank operations, they are protecting the consumers' credit rights and strengthening the US security. They provide services to foreign official institutions as well. They also supervise the other reserve banks and branches of the same.