The Volcker Commission Argued That the Number of Political Appointees

question 35

Multiple Choice

The Volcker Commission argued that the number of political appointees was ______.

• A) creating institutional memory
• B) necessary to accomplish tasks
• C) a reaction to congressional demands
• D) an impediment to government performance

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Definitions:

Comptroller of the Currency

This is a government official responsible for overseeing the federal banking system and ensuring the stability and compliance of national banks.

Lender of Last Resort

A lender of last resort is an institution, usually a country's central bank, that offers loans to banks or other eligible institutions that are experiencing financial difficulty or are considered highly risky.

Federal Reserve

The central banking system of the United States, which regulates banks, manages the country's money supply, and aims to ensure financial stability.

Monetary Policy

The actions undertaken by a central bank, such as the Federal Reserve, to control the money supply and influence the economy's overall level of activity, inflation, and interest rates.