Briefly discuss the organization of the Federal Reserve. Include in your answer a discussion of the individuals/groups who make decisions about monetary policy
What will be an ideal response?
In terms of the structure of the Fed, answers should mention the 12 district banks (and their presidents), the Board of Governors, the FOMC, and, possibly, the open market desk in New York. In terms of the individuals, answers should include a discussion of the 7 governors (with 14-year terms) and the chair with a renewable 4-year term. The role that district presidents play on the FOMC should also be noted.
You might also like to view...
Diminishing marginal productivity implies decreasing total product
a. True b. False Indicate whether the statement is true or false
Lionel's Lawn Care is a company that maintains residential yards. Lionel's cost for his standard package of mowing, edging, and trimming is $15, and he charges $25 for this service. For a total price of $40, Lionel will also trim shrubs, a service that
adds an additional $10 to the total cost of the standard package. What is Lionel's marginal cost of adding the shrub-trimming service to the standard package? A) $10 B) $15 C) $25 D) $40