Which of the following statements are correct?
I. The Federal Reserve's monetary policy must be approved by the President of the United States
.
Ii. The Federal Reserve Board of Directors meets approximately every six months to review the state of the economy and determine monetary policy.
Iii. The Federal Reserve has determined it will use the monetary base as its policy instrument.
A)iii only
B)ii only
C)i and ii
D)i only
E)None of the above answers is correct.

Question

Quizplus · Accepted Answer

The Federal Reserve operates independently of the President and does not require presidential approval for its monetary policy. The Federal Reserve Board of Governors meets more frequently than every six months, typically every six weeks, and the Federal Reserve uses the federal funds rate, not the monetary base, as its primary policy instrument.

Which of the Following Statements Are Correct