Question

The Federal Reserve Act of 1913 established the Federal Reserve System. What was the purpose of setting up the Federal Reserve System?
to strengthen the nation’s military forces
to build banks in every state
to oversee and regulate commercial banks
to do away with trusts

Answer 1

to oversee and regulate commercial banks

The Federal Reserve was created to stabilize the banking system, provide a central bank to issue currency, act as lender of last resort, and supervise/regulate commercial banks and monetary policy.