Question

After reading the passage, respond to A, B, and below.
A Referencing the scenario, describe an action, other than advancing legislation, that members of Congress may take to bring transparency and accountability to the Federal Reserve.
B. In the context of this section of the Republican Party platform, explain how the action to increase transparency and accountability described in part A would affect the Federal Reserve's ability to make
economic policy
C. The passage suggests that greater transparency in the Federal Reserve will help workers and create more equitable prosperity for average Americans. Suppose the Democratic Party wants to create a
statement about helping workers and reducing inequality in their party platform. Explain how the ideological perspective of the Democratic Party would likely affect how it would address these economic
issues

Answer 1

Where is the passage?

Answer 2

The members of U.S Congress may bring transparency and accountability to the Federal Reserve System by rejecting fraudulent and corrupt nominees.

What is the Federal Reserve System?

The Federal Reserve System is commonly referred to as the "Fed" around the world and it was enacted into law as a Federal Reserve Act on the 23rd of December, 1913 by the U.S Congress. Also, it is just like all central banks and as such it's considered as a United States government agency.

Basically, an action that members of U.S Congress may take to bring transparency and accountability to the Federal Reserve System is by rejecting fraudulent and corrupt nominees that were nominated by the president to be appointed as members of the Federal Reserve Board while confirming those who have good track records such as being transparent and accountable.

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