what was the purpose of the federal reserve act?\na. to allow the government to collect income tax\nb. to…

what was the purpose of the federal reserve act?\na. to allow the government to collect income tax\nb. to increase public trust in all banks\nc. to discourage states from printing their own money\nd. to break up banks that were considered too large

what was the purpose of the federal reserve act?\na. to allow the government to collect income tax\nb. to increase public trust in all banks\nc. to discourage states from printing their own money\nd. to break up banks that were considered too large

Answer

Answer:

B. To increase public trust in all banks

Brief Explanations:

The Federal Reserve Act of 1913 aimed to create a more stable and trustworthy banking system in the US, thus increasing public trust in banks. It established the Federal Reserve System to oversee and regulate the nation's banking and monetary system.