Question

Which of the following is not true of the Federal Reserve System?

All decisions must be approved by the president.
It is the central bank of the country.
It is an independent bank.
Congress must oversee its activities.

Answer 1

Answer:

All decisions must be approved by the president.

Explanation:

The federal reserve system was created to enforce a list of monetary policies that are intended to: Minimizing the number of employment, stabilize the price, and controlling interest rates.

All the decisions made by the Federal Reserve system is created by a board of Governors that consisted of 7 members. These 7 individuals are the one that made the decision using the data/analytic that provided by their staffs. President had no power to control their decisions.