Which agency acts as the nation's banker and fiscal manager?

The United States Treasury is indeed recognized as the nation's banker and fiscal manager. This agency is responsible for managing federal finances, including the collection of taxes, issuance of debt, and disbursement of funds. It oversees the country's financial system, ensuring that funds are allocated appropriately to meet government expenditures and obligations.

Additionally, the Treasury plays a crucial role in formulating economic policy and managing government accounts, further solidifying its position as a fiscal manager. It also collaborates with other financial institutions to help stabilize the nation's economy.

In contrast, the Federal Reserve System serves primarily as the nation's central bank, which focuses on monetary policy, controlling the money supply, and regulating financial institutions. The Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Corporation (FHLMC) are both government-sponsored enterprises that primarily deal with mortgage financing and do not carry out the broader fiscal management functions of the U.S. Treasury.