Question

Can you explain why the Board of Governors is appointed for a term of 14-years? Do you believe every Board member is unbiased and does not have a political agenda? Can you explain how our economy would be harmed if Congress oversaw our country’s Federal Reserve?

Answer 1

The Board of Governers term is 14 years as to avoid any discontinuity and we can also see that this board is running on staggered basis. No there is no any political agenda as they will be coming from different fields , different places where they may not know anything or anyone with political view they will be selected basing on their expertise in certain field. The President who appoints cannot take any advantage in appointing them which is also a reason that they will not have any political agenda. The President cannot appoint as he knows them or they favour his as this body is an independent body.

If the Congress oversaw economic reserves than the reserves will be used based on their political agenda and views which will only harm to a country economy because sometimes we have to take strict for safe guarding economy which will be dome if congress over saw it.