The purpose of having the members of the Board of Governors of the Federal Reserve serve fourteen-year terms is to
A) ensure that the governors become well-experienced at policymaking.
B) insulate the governors' policy decisions from the influence of presidential elections and politics.
C) promote unity of opinion from shared time together.
D) establish long-standing ties with high-level officials of other nations' central banks.

Question

Quizplus · Accepted Answer

The purpose of having the members of the Board of Governors of the Federal Reserve serve fourteen-year terms is to insulate the governors' policy decisions from the influence of presidential elections and politics. This is intended to preserve the independence of the Federal Reserve and prevent short-term political considerations from influencing monetary policy decisions.

The Purpose of Having the Members of the Board of Governors