The actions of the Fed:
A)must be approved by the president and Congress.
B)must be approved by the president alone.
C)must be approved by Congress alone.
D)are not subject to approval by any branch of government.
E)are subject to the approval of the electorate.

Question

Quizplus · Accepted Answer

The Federal Reserve is an independent entity and its actions are not subject to approval by any branch of government. However, the Fed is subject to congressional oversight and must provide regular reports to Congress on its activities. The members of the Federal Reserve Board are appointed by the president and subject to confirmation by the Senate, but once appointed, they are independent and not subject to removal by the president or Congress.

The Actions of the Fed