Question

The Sherman Anti Trust Act reformed the banking industry and The Fed controls

nterest rates and the amount of money a bank can loan
O True
O False

Answer 1

The Sherman Anti Trust Act did not reform the banking industry. The Fed controls interest rates and the amount of money a bank can loan.

Step-by-step explanation:

The statement is False. The Sherman Antitrust Act, passed in 1890, was designed to prevent large corporations from forming monopolies and engaging in anti-competitive practices. It aimed to promote fair competition in the market rather than specifically reforming the banking industry. On the other hand, The Federal Reserve System (The Fed) is responsible for regulating and supervising banks in the United States. It does control interest rates and the amount of money banks can loan through its monetary policy tools.

Learn more about The Sherman Antitrust Act and the role of The Fed