Question

Do you think the fomc has an easier or a harder time agreeing on monetary policy than the governing council of the ecb?

Answer 1

he presence of national biases is likely to make agreement among members of the Governing Council of the ECB more difficult. By contrast, the Federal Reserve has very little regional bias. Also, a group of 12 (the number of voting FOMC members) is likely to have an easier time coming to a decision than a group of 18 (the current number of ECB Governing Council members).