Although it enjoys substantial independence in its operations, the appointive power of the president and the ability of Congress to alter its structure make the ______________ a dependent political structure and one of the most powerful monetary organizations in the world.
A) Board of Governors (BOG)
B) Board of Directors (BOD)
C) Governing Body (GOB)
D) Financial Governors (FOG)

Question

Quizplus · Accepted Answer

The Board of Governors (BOG) is the most appropriate option as it is the main governing body of the Federal Reserve System, and although it has substantial independence, its structure and members are appointed by the president and confirmed by Congress, (which control its appointive powers) making it a dependent political structure. Additionally, the Federal Reserve System is one of the most powerful monetary organizations in the world. The other choices, B, C, and D, do not accurately describe the main governing body of the Federal Reserve System.

Although It Enjoys Substantial Independence in Its Operations, the Appointive