Question

The Federal Reserve System

A) is an agency of the executive branch of the federal government.
B) is basically an independent agency.
C) has the status of a congressional committee.
D) has the same status as the Supreme Court.

Answer 1

Option B is the answer - is basically an independent agency.

Step-by-step explanation:

Just like some central banks of other countries, the Federal Reserve is an independent agency and it does not receive funding through the budgetary procedures of the congress. The congress structured the system in such a way that the agency would not be subject to political pressures. Their income emanate from the interests generated on government securities they obtained though various open market activities.