In what sense is the Federal Reserve System both accountable to the government a

Question

In what sense is the Federal Reserve System both accountable to the government and independent of? it? A. The Board of Governors is a federal government? agency, while the Federal Reserve Banks are legally the equivalent of private corporations. B. Member banks have to complete annual government reporting requirements but are owned by private shareholders. C. Regulatory requirements are set by the federal and state? governments, but banks are owned by private shareholders. . The Board of Governors is the legal equivalent of a private corporation while the Federal Reserve Banks are government agencies

Explanation / Answer

The Federal Reserve System both accountable to the government and independent of? it because the Board of Governors is a federal government? agency, while the Federal Reserve Banks are legally the equivalent of private corporations. Federal Reserve System while authorized by the government, it is owned by private banks. So correct option is A.

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