Which of the following is not one of the functions of the Federal Reserve? a. Clearing checks b. Printing currency c. Supervising and regulating banks d. Controlling the money supply

The Federal Reserve, often referred to as "the Fed," is the central banking system of the United States. Its main functions are: 1. Conducting monetary policy 2. Supervising and regulating financial institutions 3. Ensuring the stability of the financial system 4. Providing financial services to depository institutions, the U.S. government, and foreign official institutions

Now that we have a clear understanding of the main functions of the Federal Reserve, let's analyze each of the provided options: a. Clearing checks: This falls under providing financial services to depository institutions, which is one of the main functions of the Fed. b. Printing currency: This might be a bit confusing, as the Fed does play a role in issuing currency. However, the actual printing of the currency is done by the Bureau of Engraving and Printing, which is part of the U.S. Department of the Treasury. c. Supervising and regulating banks: This is another main function of the Federal Reserve. d. Controlling the money supply: This is a part of conducting monetary policy, which is a main function of the Federal Reserve.

Based on our analysis, we can see that printing currency (option b) is NOT one of the main functions of the Federal Reserve. The actual printing of currency is done by the Bureau of Engraving and Printing, not the Fed. Therefore, the correct answer is: b. Printing currency