board of governors of the federal reserve system term length is six - year terms.
board of governors of the federal reserve system term length is six - year terms.
board of governors of the federal reserve system term length?
six - year terms
Na
Na
the federal reserve system is an independent government institution that has private aspects. the system is not a private organization and does not operate for the purpose of making a profit. the stocks of the regional federal reserve banks are owned by the banks operating within that region and which are part of the system. the system derives its authority and public purpose from the federal reserve act passed by congress in 1913. as an independent institution, the federal reserve system has the authority to act on its own without prior approval from congress or the president. the members of its board of governors are appointed for long, staggered terms, limiting the influence of day-to-day political considerations. the federal reserve system's unique structure also provides internal checks and balances, ensuring that its decisions and operations are not dominated by any one part of the system. it also generates revenue independently without need for congressional funding. congressional oversight and statutes, which can alter the fed's responsibilities and control, allow the government to keep the federal reserve system in check. since the system was designed to be independent while also remaining within the government of the united states, it is often said to be "independent within the government".
structure of the federal reserve system