Why has the Federal Reserve chairman often been called the second most important person in terms of affecting the economy?

Question

Quizplus · Accepted Answer

The Federal Reserve, under the leadership of its chair, is responsible for setting and implementing monetary policy, which includes decisions about interest rates, inflation, and the money supply. These decisions have a significant impact on the economy, making the Federal Reserve chairman an important figure in terms of affecting economic conditions.

Why Has the Federal Reserve Chairman Often Been Called the Second