Which of the following is not true about the members of the Federal Reserve Board of Governors?
A. They are appointed to fourteen-year terms by the president of the United States.
B. They are relatively immune to short-term political pressures.
C. They may not be reappointed after serving a full term.
D. They each serve as chairman of the Board of Governors on a rotating basis.
D. They each serve as chairman of the Board of Governors on a rotating basis.
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Newly-issued high-yield bonds rated below investment grade by the bond-rating agencies are frequently referred to as
A) municipal bonds. B) Yankee bonds. C) "fallen angels." D) junk bonds.
One benefit of a swap compared to futures and options is that they
A) promote liquidity. B) reduce the risk for both the buyer and seller. C) can be better tailored to meet the needs of market participants. D) can involve financial instruments and not just commodities.