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Category - Economics

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Which of the following is not a function of the Federal Reserve Board?

Controlling the United States money supply
Adjusting the prime interest rate
Supervising the FDIC
Performing open market operations

Explanation

Answer: B - The Federal Reserve is not responsible for adjusting the prime interest rate. The Fed adjusts the federal funds interest rate. Then, banks adjust the prime interest rate in accordance with recent changes to the federal funds rate.

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