The members of the Board of Governors of the Federal Reserve have 14-year nonrenewable terms.Thus:
A) they are somewhat insulated from the political process.
B) the chairman of the Board of Governors also has a 14-year term.
C) every president of a Federal Reserve district bank will serve at least 14 years on the Board of Governors.
D) the New York Federal Reserve District Bank President can only serve 14 years on the Federal Open Market Committee.

Question

Quizplus · Accepted Answer

The fact that members of the Board of Governors have 14-year nonrenewable terms means that they are not subject to frequent turnover due to changes in political leadership. This provides them with some insulation from the political process and allows them to make decisions based on economic factors rather than political pressures.

The Members of the Board of Governors of the Federal