ECONOMICS
FEDERAL RESERVE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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more oversight from the executive branch.
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more oversight from the legislative branch.
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significant control by the Treasury Department.
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relative independence of the Federal Reserve System.
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Detailed explanation-1: -Although the members of the Board of Governors of the Federal Reserve System are appointed by the president, the Board does not receive funding from Congress. The seven members serve a 14 year term, and report to the Speaker of the House once a year.
Detailed explanation-2: -The correct answer is B. Monetary policy is established by the Federal Open Market Committee. The Federal Reserve System has twelve Federal Reserve banks whereby there is one represented in each Federal Reserve districts.
Detailed explanation-3: -The Board oversees the operations of the 12 Reserve Banks and shares with them the responsibility for supervising and regulating certain financial institutions and activities.
Detailed explanation-4: -This is the governing body of the Federal Reserve System. The seven members of the board of governors are appointed by the president and confirmed by the Senate. This is a financial institution responsible for the monetary policy of a country.
Detailed explanation-5: -Jerome H. Powell. Chair. Board of Governors. Michelle W. Bowman. Governor. Board of Governors. Lisa D. Cook. Governor. Board of Governors. Philip N. Jefferson. Governor. Board of Governors. Christopher J. Waller. Governor. Lael Brainard. Vice Chair. Board of Governors. Randal K. Quarles. Vice Chair for Supervision. Janet L. Yellen. Chair. More items