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The three parts of the Federal Reserve System are the Reserve Banks, the Federal Open Market Committee (FOMC), and the:

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MsTeel

Board of governors.

The board has 7 members appointed by the President of the United States and confirmed by Congress who serve 14 year terms.

bradygibble123

the Board of Governors, the Federal Reserve Banks (Reserve Banks), and the Federal Open Market Committee (FOMC)

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