The Federal Reserve System is governed by
A) a seven-member Board of Governors appointed by the President and confirmed by the Senate.
B) the director of the Internal Revenue Service.
C) a twelve-member Board of Governors chosen by local bankers in each of the twelve Federal Reserve districts.
D) the President's Council of Economic Advisors.
E) the Secretary of the Treasury, whose name appears on all currency.
Answer: A
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