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Question:

Which of the following was not one of the powers granted to the Federal Reserve when it was created in 1913?

A. the power to require banks to hold reservesB. the power to inspect banksC. the power to prepare the federal budgetD. the power to issue currency

Answer:

C. The federal budget is prepared by Congress. Whoever is president usually submits a budget for congress to discuss, but they're the ones that actually make the budget.

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