ECONOMICS
MONETARY POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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President of the Federal Reserve
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Federal Reserve Chair
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Either A or B
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None of the above
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Detailed explanation-1: -Jerome H. Powell first took office as Chair of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. He was reappointed to the office and sworn in for a second four-year term on May 23, 2022.
Detailed explanation-2: -Federal Reserve Chairman Jerome Powell to testify before Congress for second day.
Detailed explanation-3: -Board Appointment The Chair and Vice Chair of the Board are also appointed by the President and confirmed by the Senate, but serve only four-year terms. They may be reappointed to additional four-year terms.
Detailed explanation-4: -The Federal Open Market Committee (FOMC) consists of twelve members–the seven members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and four of the remaining eleven Reserve Bank presidents, who serve one-year terms on a rotating basis.
Detailed explanation-5: -Fed Chair Jerome Powell Mr. Powell serves as the chairman of the Federal Open Market Committee (FOMC), a monetary policymaking body. The committee is made up of 12 members and has eight scheduled meetings each year to determine policy.