The Structure of Central Banks: The Federal Reserve and the European Central Bank

Please make sure to answer to the following questions: 

1.  What are the Federal Reserve’s goals and who established them? How are Fed officials held accountable for meeting them? Explain why the Chair is most influential Fed official. 

2. Do you think the FOMC has an easier or a harder time agreeing on monetary policy than the Governing Council of the ECB? 

3. Compare the communication strategies of the Federal Reserve and the ECB. In what ways are they similar? Identify two key elements of the Fed’s strategy that are not part of the ECB’s strategy and discuss whether you think the ECB is justified in omitting each of them. 

4. How did the response to the financial crisis of 2007-2009 alter the appointment process of presidents of the regional Federal Reserve Banks 

Requirements: Your response to each of the four questions above should be between 150-to-200-words and include at least 4 reputable sources. The content taken from textbook or any other source should be paraphrased (written in own words). Write in complete sentences and use good grammar, double-spacing, 12 point font, with one inch margins. Be sure to cite your resources and use APA format for the entire assignment.