In terms of informal power within the Federal Reserve, which of the following groups do experts regard as the most powerful?
A) The Federal Advisory Council
B) The economic staff of the U.S. Department of Commerce
C) The economic staff of the Board of Governors
D) Federal Reserve Bank directors

Question

Quizplus · Accepted Answer

Experts regard the economic staff of the Board of Governors as the most powerful group in terms of informal power within the Federal Reserve. This group includes the Chairman, Vice Chairman, and Governors of the Federal Reserve, who have significant influence over the decisions made by the Federal Reserve in terms of monetary policy and regulation. The other groups mentioned, such as the Federal Advisory Council and Federal Reserve Bank directors, also hold some informal power within the Federal Reserve system, but not to the same extent as the economic staff of the Board of Governors. The economic staff of the U.S. Department of Commerce, while important in its own right, does not have direct influence over the decisions of the Federal Reserve.

In Terms of Informal Power Within the Federal Reserve, Which