The FED’s Board of Governors consists of seven members appointed for staggered Fourteen year terms by the President of the U.S. The purpose of this arrangement is to make the Board less political by having various board members serve under a succession of Presidents.
Explanation:
The FED Board of Directors includes seven members directly elected of the USA for staggered 14-year terms. The object of this agreement is to minimize the regulation on the board through the turnover of different members of the Administrative Council.
The Executive Board of the Fed is the main regulatory authority of the FDR, widely recognised as the Fed Reserve Bank. These Banks are responsible for monitoring and facilitating the execution of the United States ' monetary policy.
It is responsible for the supervision and the execution of regional monetary policies of the 12 Local Reserve banks. In specific, the banking system, is often controlled and regulated.