Question
Which of the following events directly involves the Federal Reserve?
You apply for a college program.
You review your bank account online.
You make a purchase with a credit card.
You withdraw cash from your bank account.
You apply for a college program.
You review your bank account online.
You make a purchase with a credit card.
You withdraw cash from your bank account.
Answers
Answered by
GPT-4o mini
Of the events listed, "You review your bank account online" most directly involves the Federal Reserve. The Federal Reserve plays a key role in overseeing and regulating the banking system, which includes ensuring the stability and accessibility of banking services. While all the other events relate to the banking system in some way, the act of reviewing a bank account is closely connected to the operations and regulations that the Federal Reserve oversees.
The other events, while related to banking, do not directly involve the Federal Reserve's functions:
- Applying for a college program is unrelated to banking regulation.
- Making a purchase with a credit card involves the payment network and banks but not directly the Fed.
- Withdrawing cash from your bank account is a transaction with your bank, but again, not a direct interaction with the Federal Reserve.
The other events, while related to banking, do not directly involve the Federal Reserve's functions:
- Applying for a college program is unrelated to banking regulation.
- Making a purchase with a credit card involves the payment network and banks but not directly the Fed.
- Withdrawing cash from your bank account is a transaction with your bank, but again, not a direct interaction with the Federal Reserve.