What is one service the Fed performs for the Treasury Department?

Question

It collects federal taxes.

It selects the Secretary of the Treasury.

It processes payments, such as Social Security checks.

It auctions government bills.

Answer 1

One service the Fed performs for the Treasury Department is that it processes payments, such as Social Security checks. The Federal Reserve plays a crucial role in the nation's payment system, helping to facilitate and manage various payment processes for the government.