The Influence of Central Banks
Completion requirements
Central banks are typically government-managed or sponsored and play a significant role in some countries' banking systems. The Federal Reserve Bank in the United States sets things such as interest rates, which influence borrowing costs. Read this section and complete the exercises at the end.
Self-Check Questions
Why is it important for the members of the Board of Governors of the Federal Reserve to have longer terms in office than elected officials, like the President?