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Question
#13502. TFG
asks:
What branch of government is the Federal Reserve Bank under?
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essaychess
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The Federal Reserve System is an independant (i.e. not part of one of the Departments) agency of the Executive Branch.
Aug 22 01, 4:09 PM
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tragic_flawed
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Each Federal Reserve Bank and each member bank of the Federal Reserve System is subject to oversight by a Board of Governors. The seven members of the board are appointed by the President and confirmed by the Senate. Members are selected to terms of 14 years (unless removed by the President), with the ability to serve for no more than one term. However, if someone is appointed to serve the remainder of an uncompleted term of another member, they may be reappointed to serve one additional 14 year term. A governor may serve the remainder of another governor's term in addition to his or her own full term.
 http://en.wikipedia.org/wiki/Federal_Reserve_System
Sep 17 07, 2:30 AM
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