Source: Jeffrey M$.$ Lacker, "The Fed$-$Bank Relationship Under Scrutiny," Federal Reserve Bank of Richmond Econ Focus, Fourth Quarter $2015,$ p$.1.$

What does Lacker mean by a "hybrid governance model"?

A$.$ The Federal Reserve System is a near$-$government organization.

B$.$ The Federal Reserve System operates like a private corporation but also like an industry group.

C$.$ The economic power within the Federal Reserve System is divided between bankers and business interests, states and regions, and between the government and the private sector

D$.$ Power within the Federal Reserve System is divided in three ways

Why might a politically independent Fed give a greater weight to low and stable inflation than Congress and the president would if they controlled monetary policy directly?

A$.$ An independent Fed is more focused on short$-$run gains than long$-$run costs.

B$.$ Elected officials are more interested in long$-$run costs than short$-$term gains.

C$.$ Elected officials care less about short$-$term gains than long$-$run costs.

D$.$ An independent Fed is more focused on long$-$run costs than shor$-$term gains.