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Why are there 3 categories of directors for the Federal Reserve? To allow representation for different sectors of society To allow different types of banks

Why are there 3 categories of directors for the Federal Reserve?

  1. To allow representation for different sectors of society
  2. To allow different types of banks to be represented in the Fed
  3. Because half of the Fed directorship must be from the public sector
  4. Because each category of director is selected from a different branch of government

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