The Federal Reserve Bank operates:

A. as a semi-private organization not under the direct control of the government.

B. under the direct control of the executive branch of the government.

C. under the direction of the Banking Oversight Committee of Congress.

D. as a special agency of the U. S. Treasury.

Question

Business

Giovanni Morris

8 May, 20:48

The Federal Reserve Bank operates:

A. as a semi-private organization not under the direct control of the government.

B. under the direct control of the executive branch of the government.

C. under the direction of the Banking Oversight Committee of Congress.

D. as a special agency of the U. S. Treasury.

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Answers (1)

Know the Answer?

Nelson Williamson · Answer 1

The correct answer is A. as a semi-private organization not under the direct control of the government.

Explanation:

The Federal Reserve System is a public / private consortium composed of a Board of Governors, the Federal Open Market Committee, twelve regional Federal Reserve Banks, and member private banks.

The Board of Governors of the Federal Reserve System is an independent government agency, however it is subject to the Freedom of Information Act. Like many of the independent agencies, their decisions do not have to be approved by the President or by someone from the executive or legislative branch of the government.