A major criticism of the Federal Reserve system is that while governed by a nominated and confirmed board of directors, it is primarily owned by

Question

Quizplus · Accepted Answer

The Federal Reserve System, while overseen by a board of directors appointed by the President and confirmed by the Senate, is primarily owned by private banks. These banks hold stock in their regional Federal Reserve Bank, reflecting the system's unique public-private structure.

A Major Criticism of the Federal Reserve System Is That