Question 1
The voting members of the Federal Open Market Committee are
◦ all of the members of the Board of Governors and all of the presidents of the 12 Federal Reserve banks.
◦ all of the members of the Board of Governors and five of the presidents of the 12 Federal Reserve banks.
◦ the presidents of the 12 Federal Reserve banks and three members of the Board of Governors.
◦ only the members of the Board of Governors.
Question 2
Members of the Federal Reserve Board of Governors
◦ are appointed to 4 year terms.
◦ are confirmed by the House of Representatives.
◦ frequently need to deal with political pressure.
◦ are members of the Federal Open Market Committee.