Ask Beth: What is the Federal Reserve’s role in the Payment System?
Main theme
One of the main responsibilities of the Federal Reserve Banks is to help run the nation’s payment system. This means the Fed ensures checks are processed, credit and debit transactions run smoothly, and that cash is available when banks and their customers need it.
Video summary
Cleveland Fed president, Beth Hammack, describes the Federal Reserve’s role in the nation’s payment system, one of the Fed’s five main functions. This is one video from her series titled “Ask Beth.”
Other videos in the series
Ask Beth: What is Financial Stability?
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Ask Beth: What is the Consumer Protection and Community Development function of the Federal Reserve?
Cleveland Fed president and CEO Beth Hammack explains one of Fed’s key functions, community development and consumer protection, in her video shorts series, “Ask Beth.”
Ask Beth: What is the Dual Mandate?
Cleveland Fed president and CEO Beth Hammack breaks down the Federal Reserve’s dual mandate in her video shorts series, “Ask Beth.”
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Related resources
President and CEO
Learn about the work of Beth M. Hammack, president and CEO of the Federal Reserve Bank of Cleveland.
About Us
The Federal Reserve Bank of Cleveland (commonly known as the Cleveland Fed) is part of the Federal Reserve System, the central bank of the United States.