The Federal Reserve Board
The Federal Reserve Board is responsible for monetary policy in the United States. Monetary policy involves changing the rate of growth of the supply of money in circulation in order to affect the amout of credit, thereby affecting business activity in the economy. There are three areas in which these policies are monitored; the Board of Governors, the Federal Advisory Council, and the Federal Open Market Committee.
The Board of Governors directs the operation on the Fed. It supervises the twelve Federal Reserve district banks and regulated certain activities of member banks and all other depository institutions. The seven full-time members of the Board of
Governors are appointed by the President of the United States with the approval of the Senate. The President chooses one member as a chairperson. Each member of the board serves for 14 yeras. The terms are arranged so that an opening occurs every two years. Members cannot be reappointed, and their decisions are not subject to......
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