The likelihood that the Fed will implement a change that will seriously harm the economy is minimized by the fact that:

Question

Quizplus · Accepted Answer

Decision making by committee allows for a diverse range of viewpoints to be considered and can prevent any one person from making decisions that could seriously harm the economy. This system of checks and balances within the Fed helps to minimize the likelihood of any one individual or group making decisions that are not in the best interest of the economy. While factors such as the appointment of well-intentioned individuals and the accountability to Congress and the President also contribute to the Fed's responsibility, decision-making by committee is the best choice for minimizing the potential for harm to the economy.

The Likelihood That the Fed Will Implement a Change That