Statement I: As business and banking activity moved west,the Congress accommodated them by shifting a few Federal Reserve District Banks from the east and Midwest to the western states.
Statement II: A president usually gets to select the entire Federal Reserve Board that serves during his tenure.

A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.

Federal Reserve District Banks

The 12 regional banks of the Federal Reserve System in the United States, each responsible for implementing the central bank's monetary policy within its specific district.

Federal Reserve Board

The governing body of the Federal Reserve System, responsible for overseeing U.S. monetary policy and financial institutions.

Congress

The national legislative body of a country, particularly in the United States, consisting of two houses: the Senate and the House of Representatives.