Members of the Board of Governors
A. are appointed by the U.S. president, while presidents of the regional Federal Reserve Banks are appointed by those banks' boards of directors.
B. are appointed by the regional Federal Reserve Banks' boards of directors while the presidents of the regional Federal Reserve Banks are appointed by the U.S. president.
C. and the presidents of the regional Federal Reserve Banks are appointed by the U.S. president.
D. and the presidents of the regional Federal Reserve Banks are appointed by the regional Federal Reserve Banks' boards of directors.
Ans: A. are appointed by the U.S. president, while presidents of the regional Federal Reserve Banks are appointed by those banks' boards of directors.
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When a check is cleared against a bank, the bank will lose:
A. loans and demand deposits. B. cash and securities. C. checkable deposits and reserves. D. reserves and capital stock.
The Federal Reserve's policy to "lean against the wind" means that
A. interest rates are increased gradually as the economy expands. B. interest rates are decreased as the economy expands. C. reserve requirements are decreased as the economy expands. D. reserve requirements are decreased significantly during an economic expansion.