↑ 收起筛选 ↑
试题详情

The Federal Reserve System, also simply known as the Fed, is the central banking system of the USA. It is different from the usual central banks. The Fed performs the functions of the central bank but it isn't a slave to the federal government. This unique banking system was so designed just to prevent the risk that the federal government might take advantage of the central bank to stop the normal financial activities.

The Fed was established in 1913. It is composed of the Federal Reserve Banks located around the United States. It's governed by seven executive members whose term is as long as 1﹣years. They are appointed by the president, but the president doesn't have the right to dismiss them. To alleviate the president's influence upon the Fed, the president is only allowed to appoint two of the committee members in his four﹣year term.

Federal Reserve Banks are non﹣profit private hanks. They're organizations to carry out money policies. Their responsibilities are to issue money, manage the state treasury, adjust the currency circulation, see the operation of commercial banks and settle bills. Commercial hanks must hold stock in Federal Reserve Banks and keep some amount of money as reserve in one of the Federal Reserve Banks just to prevent the sponsors run away with all the bank savings.

The Federal Open Market Committee is its core managing organization. It's made up of twelve members, including seven executive members of the Fed. Chairman of New York Federal Bank and other four chairman of the Ⅱ Federal Reserve Banks in turn. Their voting result determines the policy trend.

The Federal Open Market Committee holds 8 meetings every year. If the economy is heated the Federal Open Market Committee decides to sell national debt and get in the dollars. In this way the loan interest rate will go up. Otherwise, it chooses to buy in national debt and release more dollars onto the market.

1.Why was the Fed designed to be independent of the federal government?

A.Just to give support to the government.

B.Just to cooperate with the government.

C.Just to limit the government's power.

D.Just to stop financial crisis in advance.

2.What does the underlined word "alleviate" in the second paragraph mean?

A.Promote.

B.Reduce.

C.Present.

D.Emphasize.

3.Which presents the basic function of Federal Reserve Banks?

A.Conducting monetary policies.

B.Keeping money for depositors.

C.Lending money to target users.

D.Monitoring the Fed's operation.

4.What will the Fed do if the economy turns down according to the passage?

A.To increase interest rates.

B.To buy in the national debt.

C.To raise the rate of reserve.

D.To sell more national debt.

高三英语阅读选择中等难度题

少年,再来一题如何?
试题答案
试题解析
相关试题