Member banks of the Federal Reserve System
A)advise the Fed on monetary policy.
B)are immune from the effects of monetary policy.
C)vote on members of the Board of Governors.
D)have little control over the system they "own."

Question

Quizplus · Accepted Answer

While member banks do have a voice in the Federal Reserve System through their representation on the Federal Reserve Board of Directors, they ultimately have little control over the decisions made by the Fed. In addition, member banks are not immune from the effects of monetary policy as the actions of the Fed can significantly impact the profitability and operations of individual banks.

Member Banks of the Federal Reserve System