Question

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. This MOST LIKELY results in A) more oversight from the executive branch. B) more oversight from the legislative branch. C) significant control by the Treasury Department. D) relative independence of the Federal Reserve System.

Answer 1

Answer:

D: relative independence of the Federal Reserve System.

Explanation:

Answer 2

The correct answer is D) relative independence of the Federal Reserve System.

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. This MOST LIKELY results in relative independence of the Federal Reserve System.

The Fed or Federal Reserve represents the Central Bank in the United States. It aims to maintain the correct monetary policy in the US and to maintain a good economy in the country. The Fed works for the stability of the financial system in America and oversees the functioning of the bans to reduce the risk of a financial problem. The Fed does not depend on the federal government and this allows it a grade of independence to operate.