The __________ are the seven members of the Fed appointed by the president and approved by the senate to serve fourteen-year terms; they make up the core of the Fed and are located in Washington, D. C.

Question

Quizplus · Accepted Answer

The Board of Governors consists of seven members appointed by the president and approved by the senate. They are located in Washington, D.C. and make up the core of the Federal Reserve System. The Federal Reserve Bank Presidents and the Federal Open Market Committee (FOMC) are also important parts of the Fed, but they are not the seven members who make up the Board of Governors. The U.S. Treasury Department is a separate government agency that is not part of the Federal Reserve System.

The __________ Are the Seven Members of the Fed Appointed