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.(5,6,7)
Which of the following contributes to making the Federal Reserve an independent policymaking body?
a. Members of the Board of Governors are appointed for 14-year terms.
b. There are 12 Federal Reserve banks.
c. Its role is written into the U.S. Constitution.
The Federal Reserve's primary tool for changing the money supply is the ? . In order to decrease the number of dollars in the U.S. economy (the money supply), the Federal Reserve will ? government bonds.