Please give some explanation in short:

1.'The independence of the Fed leaves it completely unaccountable for itsactions.' Is this statementtrue, false, oruncertain?

2.In the 1960s and1970s, the Federal Reserve System lost member banks at a rapid rate. How can the theory of bureaucratic behavior explain theFed's campaign for legislation to require all commercial banks to becomemembers? Was the Fed successful in thiscampaign?

3."The theory of bureaucratic behavior indicates that the Fed never operates in the publicinterest." Is this statementtrue, false, oruncertain?

4.The Fed promotes secrecy by not releasing the minutes of the FOMC meetings to Congress or the public immediately. Discuss the arguments for and against this policy.