ECONOMICS
FEDERAL RESERVE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To provide leadership
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To provide money
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To provide education
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To provide housing
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Detailed explanation-1: -It is responsible for overseeing the organization’s vision, mission, and strategy and provides leadership through a policy-based approach. The Board is composed of 14 members, which includes the President and CEO and 13 other governors who serve in a volunteer capacity.
Detailed explanation-2: -The Board of Governors guides the operation of the Federal Reserve System to promote the goals and fulfill the responsibilities given to the Federal Reserve by the Federal Reserve Act. All of the members of the Board serve on the FOMC, which is the body within the Federal Reserve that sets monetary policy.
Detailed explanation-3: -Board of Governors is an assembly of persons responsible for the efficient operation of an organization. In an institution, the board acts as a decision-making body. The purpose of forming this group is to oversee the operations and activities of a company to ensure its mission and objectives are met.
Detailed explanation-4: -The chair of the board is one of the highest supervisory roles in a modern corporation. In addition to overseeing the company’s long-term trajectory, the board is also responsible for appointing executives, determining their compensation, and approving certain management decisions.
Detailed explanation-5: -As of 2022, the World Bank is run by a president and 25 executive directors, as well as 29 various vice presidents. IBRD and IDA have 189 and 174 member countries, respectively. The U.S., Japan, China, Germany and the U.K. have the most voting power.