Assume that you recently graduated with a degree in finance and have just reported to work as an investment adviser at the firm of Balik and Kiefer Inc. Your first assignment is to explain the roles financial intermediaries play in the U.S. banking system to Michelle Delatorre, a professional tennis player who has just come to the United States from Chile. Delatorre is a highly ranked tennis player who expects to invest substantial amounts of money through Balik and Kiefer. She is also extremely bright, and, therefore, she would like to understand in general terms what will happen to her money. Your boss has developed the following questions, which you must answer to help explain the nature of financial intermediaries and the U.S. banking system to Ms. Delatorre. a) What is a financial intermediary? What is the financial intermediation process? b) What roles do financial intermediaries fulfill? c) What are the different types of financial intermediaries? Give some characteristics that differentiate the various types of intermediaries. d) Describe the banking system found in the United States. e) What role does the Federal Reserve play in the U.S. banking system?