The president has influence on Federal Reserve policy because
A)he can veto any Fed policy.
B)he appoints the board members and the chair.
C)he can fire the chair.
D)he can replace board members at any time.

Question

Quizplus · Accepted Answer

The president has the authority to appoint the members of the Federal Reserve's Board of Governors, including its chair, which gives him indirect influence over Fed policy. However, the president cannot veto Fed policies, fire the chair at will, or replace board members at any time, as these actions would undermine the Federal Reserve's independence.

The President Has Influence on Federal Reserve Policy Because