Which of the following is not a reason the New York Federal Reserve Bank president always gets to vote at the Federal Open Market Committee meetings?
A)New York is the traditional financial center of the U.S.economy.
B)All Fed purchases and sales of bonds go through the New York Fed's trading desk.
C)New York has higher population than other cities in the U.S.
D)All of the above are reasons.

Question

Quizplus · Accepted Answer

The New York Federal Reserve Bank president's voting power is not based on the population of New York or any other demographic factor. It is based on the fact that the New York Fed's trading desk carries out all Fed purchases and sales of bonds, making it a crucial and central player in the implementation of monetary policy. Additionally, New York's status as the financial capital of the United States means that it has a disproportionate impact on the national and global economy.

Which of the Following Is Not a Reason the New