The Board of Governors of the Federal Reserve System consists of

Question

a. twelve members appointed by Congress.
b. up to seven members appointed by the president.
c. five members appointed by the president and seven rotating presidents of the Federal Reserve Banks.
d. seven members appointed by Congress and seven appointed by the president.
e. seven members elected by the Federal Reserve Banks.

Answer 1

The correct answer is: b. up to seven members appointed by the president.

The Board of Governors of the Federal Reserve System is made up of seven members who are appointed by the President of the United States and confirmed by the Senate.