a. When economists say that the Federal Reserve Banks are central banks, it means that O the banks' policies are determined by the policymakers at the center of government. Federal Reserve Banks are...

Q2

Extracted text: a. When economists say that the Federal Reserve Banks are central banks, it means that O the banks' policies are determined by the policymakers at the center of government. Federal Reserve Banks are central to the operation of monetary policy. O O the banks' policies are coordinated by the Federal Reserve Board of Governors. O Federal Reserve Banks are centrally located in their districts.