Do you think the current procedures for appointing members to the Board of Governors are consistent with the principles of good central bank design? Explain your answer. No Because the long length of the terms of the members is inconsistent with central bank independence. No. Because the length of the terms coincides with the electorai cycle, this increases the opportunity for political influence and Inconsistent with central bank independence. Yes. Because the governors are appointed by members or the banking community, this reduces the opportunity for political influence and is consistent with central bank independence Yes. Because the long length of the terms of the members and the fact they are staggered reduces the opportunity for political influence on the selection of the governors and so these procedures are consistent with central bank independence