Final answer:
The reference materials provided do not specify the frequency at which financial institutions are required to review their account objectives and investment strategies according to Federal Reserve guidance. The materials discuss the Federal Reserve's reporting to Congress, its independence, and its monetary policy tools, but not the specific review frequency for account strategies.
Step-by-step explanation:
The subject of the student's question concerns the regulatory compliance of financial institutions with respect to the review frequency of approved account objectives and investment strategies. Although the question mentioned the Federal Reserve, the specific guidance it refers to is not explicitly addressed in the provided information. The regular reports of the chairman of the Fed to Congress facilitated by the Humphrey-Hawkins Act, the structure and independence of the Federal Reserve, the various tools of monetary policy, and the Fed's role in money supply and interest rates are all related topics, but they do not directly answer the student's question regarding the mandated frequency of account and investment strategy reviews.
Without the specific regulation or Federal Reserve guidance in question, one must refer to the standard practices in the industry. It is generally expected that financial institutions perform regular reviews of their account objectives and investment strategies, but the precise frequency required by the Federal Reserve is not provided in the reference material. The materials do show that the Federal Reserve reports biannually to Congress as per the Humphrey-Hawkins Act, highlights the importance of the Federal Reserve's independence from political influences, and discusses how the Federal Reserve's policy decisions can impact the economy.