One of the ways the Federal Reserve carries out its responsibilities for conducting monetary policy is...
One of the ways the Federal Reserve carries out its responsibilities for conducting monetary policy is by trying to affect the level of key interest rates. In early 2016, Federal Reserve Chair Janet Yellen met with President Barack Obama in the White House. According to an article in the Wall Street Journal,a spokesman for the president stated that open double quote“he 'would not anticipate' that Ms. Yellen would go into detail on the path of interest rates at the meeting . ..close double quote”
Which best describes why the president and Ms. Yellen did not discuss interest rates?
A.They did not have enough time.
B.The president does not set interest rates.
C.It is important for the Fed to maintain its independence.
D.The Federal Reserve is not a government organization.
Homework Answers
C.It is important for the Fed to maintain its independence.
Explanation: The Fed is an independent authority and it does not take monetary policy instructions from the government. It is beneficial for the overall US economy that the Fed maintains its independence.
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