Question

While all members of the Federal Reserve Board of Governors vote at Federal Open Market Committee (FOMC) meetings, only _________ of the regional bank presidents are members of the FOMC. Which of the following contributes to making the Federal Reserve an independent policymaking body?

a. Its role is written into the U.S. Constitution.
b. There are 12 Federal Reserve banks.
c. Members of the Board of Governors are appointed for 14-year terms.

Answer 1

Answer: See explanation

Step-by-step explanation:

While all members of the Federal Reserve Board of Governors vote at Federal Open Market Committee (FOMC) meetings, only (5) of the regional bank presidents are members of the FOMC.

The option that contributes to making the Federal Reserve an independent policymaking body is that members of the Board of Governors are appointed for 14-year terms.