The members of the Board of Governors of the Fed are _____
A) elected by the member banks.
B) chosen by the state governors.
C) elected for seven-year terms.
D) all replaced after each presidential election.
E) appointed by the president with the approval of the Senate.

Question

Quizplus · Accepted Answer

The members of the Board of Governors of the Fed are appointed by the president with the approval of the Senate. They serve one non-renewable 14-year term to maintain political independence.

The Members of the Board of Governors of the Fed