Identify the true statements about the Federal Reserve System. - It is a cabinet-level department, and the...

Identify the true statements about the Federal Reserve System.
- It is a cabinet-level department, and the chairmanship of the Fed is considered a plum political appointment.
- It is an independent agency that is led by the Council of Economic Advisers.
- It is the central banking system of the United States and is led by the Secretary of the Treasury.
- It is the central banking system of the United States, with a chairman appointed by the president.
- It is an independent agency that is structured to be less subject to political pressures than most government agencies.