Which of the following is not a function of the Federal Reserve System? A. It acts as a central bank to the central government. B. It acts as a banker to banks. C. It determines tax levels in conjunction with the U. S. Treasury. D. It sets monetary policy.

C. It determines tax levels in conjunction with the U.S. Treasury.

Explanation:

A federal reserve system is a central banking system of the united states and is enacted by the foreign reserves act and measures the series of the financial panics. Established as a key objective to the monetary policy and maximizing employment and stabilizes the prices. The united states treasury is an entity outside the Central banks that the prints the currency used.

Fiscal policy because it refers to the use of government spending and tax policies to influence macroeconomic conditions, including aggregate demand, employment, inflation, and economic growth.