Which of the following descriptions correctly identifies and describes the group that is at the head of the U.S. Federal Reserve System?
A) Each member of the 12-person board of governors is appointed by the outgoing Fed chairperson with the approval of Congress for a four-year term.
B) Each member of the 12-person committee of district Fed bank presidents is elected by the citizens of the district for a four-year term.
C) Each member of the seven-person board of governors is appointed by the U.S. president with the approval of Congress for a 14-year term.
D) Each member of the four-person board of governors is appointed by a congressional committee for a 12-year term.

Question

Quizplus · Accepted Answer

The Board of Governors of the Federal Reserve System consists of seven members who are appointed by the President of the United States and confirmed by the Senate for staggered 14-year terms. This structure is designed to ensure their independence from political pressure.

Which of the Following Descriptions Correctly Identifies and Describes the Group