The Fed banks are supervised by a central governing body called
A) the Board of Governors
B) the Federal Open Market Committee
C) the Chairman of the Fed
D) the Federal Banking Committee

Question

Quizplus · Accepted Answer

The Board of Governors is the central governing body of the Fed and is responsible for supervising the 12 regional reserve banks. The Federal Open Market Committee (FOMC) is responsible for setting monetary policy, but it is composed of members from both the Board of Governors and regional reserve banks. The Chairman of the Fed is the head of the Board of Governors and also the public face of the Fed, but they do not directly supervise the regional reserve banks. The Federal Banking Committee does not exist, so option D is incorrect.

The Fed Banks Are Supervised by a Central Governing Body