【多选题】Which of the following is correct about the Federal Reserve System?
A.
Federal Reserve Banks are Quasi-public – they are owned by the private commercial banks in the district that are members of the Federal Reserve System.
B.
All commercial banks are required to be members of the Federal Reserve System.
C.
All seven governors in Board of Governors are members of the FOMC and vote on the conduct of open market operations.
D.
It’s the Federal Open Market Committee (FOMC) that sets the target federal funds rate.