Read the following statements and determine if they are true or false.
I. The Federal Reserve's monetary policy must be approved by the President of the United States.
II. The Federal Reserve Board of Governors meets approximately every six months to review the state of the economy and determine monetary policy.
A) I and II are both true.
B) I and II are both false.
C) I is true and II is false.
D) I is false and II is true.

Question

Quizplus · Accepted Answer

The Federal Reserve operates independently of the executive branch, meaning its monetary policy decisions do not require approval by the President. Additionally, the Federal Reserve's Federal Open Market Committee (FOMC) meets roughly every six weeks, not every six months, to assess the economy and adjust monetary policy as needed.

Read the Following Statements and Determine If They Are True