Why does the author discuss the function of the U.S. Treasury Department?
A) to point out its differences from the Federal Reserve
B) to note the influence of Hamilton in creating the U.S. Treasury
C) to explain the limitations of presidential and congressional power
D) to examine the purpose of the 1913 Federal Reserve Act
The correct answer is D) to examine the purpose of the 1913 Federal Reserve Act.
Explanation: The author discusses the function of the U.S. Treasury Department to provide context for understanding the establishment and purpose of the Federal Reserve System, particularly how the 1913 Federal Reserve Act was designed to manage monetary policy and regulate the banking system in contrast to the Treasury’s functions. This sets the stage for discussing the broader implications of these institutions on the economy.