Chapter 26, Problem 6MCQ

To determine

The correct option regarding the member of the Federal open market committee.

Explanation of Solution

The New York Fed president, four of the other eleven regional presidents of the Federal Reserve Banks, and the seven members of the Federal Reserve Board who each serve one-year terms make up the Committee. Since 1935, the Federal Reserve Board Chair has always been chosen by the committee to serve as its chair, cementing the idea that the two jobs are one.

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