Which of the following is most accurate?

Question

Quizplus · Accepted Answer

The US Federal Reserve operates with a significant degree of independence from the federal government, which allows it to make decisions on interest rates and monetary policy without direct political pressure. This level of independence is indeed relatively high compared to central banks in some other countries, where political influence can be more pronounced. Choices A, B, C, and D are incorrect due to historical inaccuracies: the US has not always had a national bank, it is not currently on the gold standard, it did not use both gold and silver to back its currency throughout the entire 19th century, and the 1970s were characterized by high inflation, not low.

Which of the Following Is Most Accurate