Questions: Members of the Board of Governors of the Federal Reserve System are appointed for life.

Members of the Board of Governors of the Federal Reserve System are appointed for life.
Transcript text: Members of the Board of Governors of the Federal Reserve System are appointed for life.
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Solution

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The answer is False: Members of the Board of Governors of the Federal Reserve System are appointed for life.

Explanation:

  • Members of the Board of Governors of the Federal Reserve System are appointed for staggered 14-year terms, not for life. This structure is designed to ensure stability and continuity in monetary policy.
  • The President of the United States appoints the members, and the Senate confirms them. While they serve long terms, they are not lifetime appointments.
  • The Chair and Vice Chair of the Board are appointed from among the members for four-year terms, which can be renewed, but again, these are not lifetime positions.
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