The length of the term is intended to limit the presidents control over the Fed and thus
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The length of the term is intended to limit the president’s control over the Fed and thus to reduce political pressure on board members; the nonrenewable nature of an appointment prevents any incentives for governors to take actions that may not be in the best interests of the economy yet may improve their chances of being reappointed.
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Related Book For 
Financial Markets And Institutions
ISBN: 9781259919718
7th Edition
Authors: Anthony Saunders, Marcia Cornett
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