ECONOMICS
FEDERAL RESERVE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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There are fourteen of them, elected by popular vote every four years
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There are seven of them, chosen by the President to serve fourteen-year terms.
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There are twelve of them, chosen by the President to serve four-year terms.
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There are seven of them, each of them also serving in a Congressional financial subcommittee.
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Detailed explanation-1: -Which of these describes the Fed’s Board of Governors? Answers: A. There are fourteen of them, elected by popular vote every four years.
Detailed explanation-2: -The seven members of the Board of Governors of the Federal Reserve System are nominated by the President and confirmed by the Senate. A full term is fourteen years. One term begins every two years, on February 1 of even-numbered years. A member who serves a full term may not be reappointed.
Detailed explanation-3: -The Board of Governors–located in Washington, D.C.–is the governing body of the Federal Reserve System. It is run by seven members, or “governors, ” who are nominated by the President of the United States and confirmed in their positions by the U.S. Senate.
Detailed explanation-4: -Which of these best describes the Federal Reserve System (the Fed)? It is a mostly independent agency that supervises and manages the financial system.
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