Over the past seventy-five years, power within the Federal Reserve has shifted from
A) the Federal Reserve Banks to the Board of Governors in Washington.
B) the Board of Governors to the Federal Reserve Bank of New York.
C) domestic Federal Reserve banks to foreign Federal Reserve banks.
D) the Federal Reserve Bank of New York to the Federal Reserve Bank of Dallas.

Question

Quizplus · Accepted Answer

The power within the Federal Reserve has shifted from the Federal Reserve Banks to the Board of Governors in Washington since the 1940s. This shift has been due to several legislative changes and the increasing centralization of the Fed's operations.

Over the Past Seventy-Five Years, Power Within the Federal Reserve