Chapter 26, Problem 4MCQ

To determine

The managing authority of the Federal Reserve system.

Explanation of Solution

The chief regulatory body of the Federal Reserve System is the Board of Governors of the Federal Reserve System, sometimes referred to as the Federal Reserve Board. Its duties include managing the Federal Reserve Banks and assisting with the execution of American monetary policy. For staggered 14-year terms, governors are chosen by the American president and ratified by the Senate.

Hence, from the above, we can conclude that the correct option is D.