The members of the Board of Governors of the Fed are
A)elected by the member banks
B)chosen by the state governors
C)elected for seven year terms
D)all replaced after each Presidential election
E)selected by the President with the approval of the Senate

Question

Quizplus · Accepted Answer

Members of the Board of Governors of the Fed are selected by the President of the United States and are subject to approval by the Senate. They serve 14-year terms that are staggered, so not all members are replaced at the same time.

The Members of the Board of Governors of the Fed