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Test Your Knowledge

Directions: Answer the following questions using the information you have learned in this course.

Who created the Federal Reserve System?
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Correct Response:

Question: 1—2—3…6

In which Federal Reserve district do you live? Click here to enter your zip code and identify your district.
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Correct Response:

The Federal Reserve System has three components — each with distinct responsibilities. Drag each responsibility to the correct Federal Reserve System component below.

Discussion Board Topic: The Federal Reserve: Independence and Oversight

Now that you've completed this course on the Federal Reserve System, you know more about the organization of the Fed than the majority of the public. For example, you have learned that the Board of Governors is a federal government agency, while the 12 Reserve Banks are independent of the government. A lot of thought went into this arrangement to ensure the best "mix" of government oversight and monetary independence. How would you explain the makeup of the Federal Reserve System, and in what ways does this design serve the government and the public?

Record your summary by clicking on the discussion board and responding to the thread titled "The Federal Reserve: Independence and Oversight."