The correct answer is 1[A]: The Federal Reserve.
The Federal Reserve is a key independent agency because it operates independently from the executive branch of the government. It is responsible for overseeing the nation's monetary policy, regulating and supervising banks, and maintaining stability in the financial system. The Federal Reserve acts as the central bank of the United States and plays a crucial role in influencing interest rates, controlling inflation, and promoting economic growth. It was established by the Federal Reserve Act of 1913 and has a significant impact on the economy and overall financial stability of the country. The Federal Reserve's independence is crucial to ensure its ability to make decisions that are impartial and free from political influence.
[1 Point] (Question 1): Identify which of the following is a key independent agency. Please explain your answer.
(Answer 1[A]: The Federal Reserve).
(Answer 2[B]: The Internal Revenue Service).
(Answer 3[C]: Centers for Disease Control).
(Answer 4[D]: The Department of the inferior).
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