Which is TRUE of the structure of the Fed?
A) All seven members of the Board of Governors are appointed by the President.
B) The President serves as a member of the Board of Governors.
C) The Secretary of the Treasury chairs the Federal Open Market Committee.
D) The President is a member of the Federal Open Market Committee.

Question

Quizplus · Accepted Answer

The Board of Governors has seven members who are all appointed by the President and approved by the Senate.

Answer: None of the above options are true regarding the President's role on the Board of Governors or the Federal Open Market Committee. The President does not serve on either of these bodies, and the Secretary of the Treasury does not chair the Federal Open Market Committee (the Chair of the Board of Governors serves as the Committee's Chair).

Which Is TRUE of the Structure of the Fed