The Federal Reserve is considered independent because
A) it has its own source of funds.
B) the terms of the Board of Governors is longer than the President's.
C) the chairman cannot be fired by Congress.
D) all of the above.

Question

Quizplus · Accepted Answer

The Federal Reserve is considered independent for several reasons: it has its own source of income, allowing it to operate without direct financial support from Congress; the terms of the Board of Governors are 14 years, which is longer than the four-year term of the President, reducing direct political influence; and while the President nominates the Federal Reserve Chair, once confirmed, the Chair cannot be removed by Congress or the President for their policy views, further insulating the institution from political pressures.

The Federal Reserve Is Considered Independent Because