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The Federal Reserve does not depend on Congress for its budget and the terms of the Board of Governors arelong and staggered term.These features contribute

The Federal Reserve does not depend on Congress for its budget and the terms of the Board of Governors arelong and staggered term.These features contribute to

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a. the size of the money multiplier

b. the political independence of the Federal Reserve

c. the forward guidance feature of expectations management

d. the federal budget deficit

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