The Federal Reserve is considered to be independent since members of the Board of Governors are appointed for longer terms than any elected officials.

Question

Quizplus · Accepted Answer

The Federal Reserve is considered independent because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branches of government, and its Board of Governors is appointed for staggered 14-year terms, ensuring its operation is insulated from short-term political pressures.

The Federal Reserve Is Considered to Be Independent Since Members