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Federal Reserve Bank board members are staggered, non-renewable, 14 year appointments. How does this impact the...

Federal Reserve Bank board members are staggered, non-renewable, 14 year appointments. How does this impact the operation of monetary policy with regard to Congress and the president?

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Thus prevents monetary policy from being affected by political consideration. It guaretees independence of board members. Historical experience has shown that Govt intervention in monetary policy is too bad. It caused many bank failure, too much inflation, weakening of economy and so on earlier

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