Which of the following statements about the Federal Reserve is not correct?
A) The members of the Board of Governors are also presidents of the Federal Reserve's regional banks.
B) The Federal Open Market Committee makes monetary policy.
C) All members of the Board of Governors sit on the Federal Open Market Committee.
D) The Federal Reserve serves as a bank regulator.

Question

Quizplus · Accepted Answer

The members of the Board of Governors are not presidents of regional banks. They are appointed by the President of the United States and confirmed by the Senate to serve on the Board of Governors in Washington, D.C.

Which of the Following Statements About the Federal Reserve Is