Discussion
What is the full form of "FRB"?
Answer: C
Correct answer: Federal Reserve Bank
A Federal Reserve Bank is one of the twelve regional banks that, with the Board of Governors in Washington, make up the Federal Reserve System - the central bank of the United States.
Each serves a district: New York, Chicago, San Francisco and so on. The New York bank is the most prominent, conducting open market operations for the whole System. The structure is deliberately decentralised, and the regional presidents rotate through voting seats on the Federal Open Market Committee alongside the Governors.
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