What is the main policy-making body of the Federal Reserve System, responsible for open market operations?

Federal Open Market Committee (FOMC)

Office of the Comptroller of the Currency

Who appoints the members of the Board of Governors of the Federal Reserve?

The President of the United States

The Chief Justice of the Supreme Court

Trivia · Knowledge

Test your knowledge about the structure, functions, and key aspects of the United States Federal Reserve System.0 takes

Preview · 10 questions

01The Federal Reserve System was created by the Federal Reserve Act in what year?
02How many regional Federal Reserve Banks are there in the United States?
03What is the main policy-making body of the Federal Reserve System, responsible for open market operations?
04How many members serve on the Board of Governors of the Federal Reserve System?
05What is the length of a full, non-renewable term for a member of the Board of Governors?
06The 'dual mandate' of the Federal Reserve's monetary policy is to promote maximum employment and what other objective?
07The president of which Federal Reserve Bank holds a permanent voting seat on the Federal Open Market Committee (FOMC)?
08What is the name for the interest rate at which depository institutions lend reserve balances to other depository institutions overnight?
09The buying and selling of government securities by the Fed to alter the supply of money is known as what?
10Who appoints the members of the Board of Governors of the Federal Reserve?