Each Member of the Board of Governors of the Fed

question 102

Multiple Choice

Each member of the Board of Governors of the Fed:

• A)is from the minority of the FOMC.
• B)can have twelve presidential appointments.
• C)is authorized to set reserve requirements by the Bank Acts of 1933 and 1935.
• D)serves one nonrenewable term.
• E)is elected by the member banks which own the Federal Reserve.