Question

The second most powerful person is the world is the Chair of the Federal Reserve Bank. Why do you think that is the case?

Answer 1

The Board of Governors of the Federal Reserve is headed by the chairman, who has often been called the second most powerful person in the United States. The Chair of the Federal Reserve Bank is second most powerful person as directs the monetary policy of the U.S. The global financial world hangs on the every word of Chair of the Federal Reserve Bank, since they speak for the international’s most vital central bank and fix the policies that impact the international reserve currency. Considering that majority of the world’s nations depend on the value of the U.S. dollar for the global trade and value their own currency, what the U.S. does with its policies can cause a ripple effect around the international trade. Chair of the Federal Reserve Bank is controlling a whole economy of U.S. that also affects other economics across the whole country is indeed a huge responsibility that makes the chair a very powerful and important person.