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Question 13 (4 points) the trading desk at the Federal Reserve Bank of New York takes its directives To conduct open market operations from 12 the U.S. Treasury Department 15 the Board of Governors in Washington, D.C. the Federal Open Market Committee 7 18 the president of the New York Fed B Question 14 (4 points) Member banks of the Fed 11 12 are the real owners of the Federal Reserve Banks but have little actual power within the Federal Reserve Bank system, TA 15 1 18 are nominal owners of the Federal Reserve Banks and have actual power within the Federal Reserve Bank system are the real owners of the Federal Reserve Banks and have actual power within the Federal Reserve Bank system. are the nominal owners of the Federal Reserve Banks and they have little actual power within the Federal Reserve Bank system 20 21 7 B 9 Question 20 (4 points) Legislatively, congress has not given the Board of Governors and the FOMC formal authority over monetary policy 10 11 12 True 13 15 False Politich Business Cycle 12 None of the answers are correct 15 is the theory that policy makers will urge the Fed to lower interest rates to stimulate the economy prior to an election 18 is the theory that the U.S. president will urge Congress to lower interest rates to stimulate the economy prior to an election is the theory that the US president will urge Congress to raise taxes to stimulate the economy prior to an election 21