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Federal Reserve Board:
The Federal Reserve Board is a group of seven people appointed by the President of the United States and approved by the Senate. They are in charge of overseeing the Federal Reserve System, which is responsible for managing our country's money and controlling interest rates to keep the economy stable.
Let's say the economy is growing too fast, and there's a risk of high inflation. The Federal Reserve Board may decide to raise interest rates to ideally slow down borrowing and spending, helping to keep inflation in check.
"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"
In the land where money does flow,
A group of seven has the know-how, you know.
They're called the Federal Reserve Board,
And keeping the economy in tune is their reward.
Appointed by the President, they stand,
Senate-approved to rule the land.
They watch the economy, day and night,
Adjusting interest rates, keeping things right.
So if the economy grows too fast,
The Board steps in, to make the good times last.
They work with care, as the money they oversee,v
To make sure our nation's economy stays steady as can be.