Complete the following statements to demonstrate your understanding of the relat

Question

Complete the following statements to demonstrate your understanding of the relationships among the different structures of the Federal Reserve. The Board of Governors of the Federal Reserve is in charge of setting and overseeing monetary policy and is headed by the Monetary policy is supposed to be Congress and the president. This goal is hindered by the fact that the chairman is Because Congress initially intended to create a decentralized banking system, there are also smaller branches of the Federal Reserve known as district banks All presidents of the distinct banks take turns serving as members of the Federal Open Market Committee (FOMC) except for the president of the Federal Reserve Bank of who is a permanent member. The FOMC is the official policymaking body of the Federal Reserve and the Federal Reserve Bank of New York, which is responsible for

Explanation / Answer

ans

(1) Chairman

(2) approved

(3)  nominated by the President of the United States

(4) new york

(5) Exchange rate

(6) issuing new U.S. Treasury securities

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