Question

Which of the following was the nationโs first true central bank?

federally chartered bank of the Civil War

Bank of the United States

Federal Deposit Insurance Corporation

Federal Reserve System

Answer 1

Federal Reserve System is the answer.

Answer 2

The correct answer is: Federal Reserve System. The FED is the central bank of the United States, its mission is to promote a solid banking system and a prosperous economy. It is composed of 12 banks and each one serves in a specific region of the country. The ferderal reserve system works as a bank for banks, it also manages the nation's money.