Along with creating the Federal Open Market Committee, the Federal Reserve Act of 1935 : a. Consolidated power in the Board of Governors, granted it authority to set reserve requirements and approve regional discount rates b. Established the selection and confirmation process for the Fed's Chairman and Vice Chairman c. Removed the Secretary of the Treasury and Comptroller of the Currency from the Fed's Board, providing greater Fed independence d. Each of these answers is correct Which of the following is true concerning each of the Federal Reserve district bank boards? a. Each district bank board has nine-members who serve part-time b. Each district bank board appoints a president, who must be approved by the Federal Reserve Board of Governors c. Each district bank board chooses a member to serve on the Federal Advisory Committee d. Each of these answers is correct