Question 1
The Board of governors of the Fed
◦ are appointed by the House of Representatives.
◦ has 12 members.
◦ have a 7-year term.
◦ is headquartered in Washington, D.C.
Question 2
The Fed
◦ issues deposits to the public.
◦ lends money to foreign governments.
◦ clears inter-bank payments.
◦ lends money to the public.
