Question 5 • FL-2106010-M/J Civics B
Answer:
The Federal Reserve has a layered structure. At the top is the Board of Governors, which oversees the system nationally. The 12 regional Federal Reserve Banks serve different parts of the country and carry out many Fed policies and services. Member banks form the broad base of the structure by working with their regional Reserve Bank and serving customers. The Federal Open Market Committee helps set national monetary policy.