Which group appoints members of the Federal Reserve Board of Governors?
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Correct answer: The President of the United States
The President appoints members of the Board of Governors, subject to Senate confirmation. This ensures federal oversight of the central bank.
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More Federal Reserve Act of 1913 questions
- What is the term for Federal Reserve policy actions that influence the money supply?
- Which of the following best describes Federal Reserve Notes?
- What power allows the Federal Reserve to influence interest rates?
- Which sector benefits most directly from the Federal Reserve acting as a 'lender of last resort'?
- What was a key feature of the Federal Reserve System's structure?
- Which Act created the Federal Reserve System?