Asked by Miquan Patton-Martin on May 06, 2024
Verified
Designers of the Federal Reserve System were concerned that the Fed might form policy favorable to one part of the country or to a particular party. What are some ways that the organization of the Fed reflects such concerns?
Federal Reserve System
The central banking system of the United States, responsible for monetary policy, banking supervision, and financial services.
Policy
A course or principle of action adopted or proposed by an organization or individual.
- Assess the architecture and responsibilities of the Federal Reserve System, emphasizing its key impact on the crafting of economic policies.
Verified Answer
YS
Yash Sureshbhai PatelMay 07, 2024
Final Answer :
1. The president appoints the Board of Governors, but the Senate must approve them.
2.The seven members of the Board of Governors serve 14 -year terms, so it is unlikely that a single president will have appointed most of them.
3. The Federal Reserve has 12 regional banks.
4. The presidents of the regional banks serve as voting members of the FOMC on a rotating basis.
2.The seven members of the Board of Governors serve 14 -year terms, so it is unlikely that a single president will have appointed most of them.
3. The Federal Reserve has 12 regional banks.
4. The presidents of the regional banks serve as voting members of the FOMC on a rotating basis.
Learning Objectives
- Assess the architecture and responsibilities of the Federal Reserve System, emphasizing its key impact on the crafting of economic policies.
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