The Federal Reserve System is controlled by the
A) board of governors.
B) president of the United States.
C) U.S. Senate.
D) member banks.
E) U.S. Treasury Department.

Question

Quizplus · Accepted Answer

The Federal Reserve System is controlled by a seven-member Board of Governors, which is appointed by the President of the United States and confirmed by the Senate. The member banks participate in the Federal Reserve System but do not control it. The U.S. Treasury Department plays a role in working with the Federal Reserve, but does not control it.

The Federal Reserve System Is Controlled by the