Where does 'The Fed" ( the Federal Reserve Bank), get its power from?

  1. D.Juris Stetser profile image60
    D.Juris Stetserposted 5 years ago

    Where does 'The Fed" ( the Federal Reserve Bank), get its power from?

  2. point2make profile image80
    point2makeposted 5 years ago

    The Fed get it's powers from the Federal Reserve Act of 1913 that spells out the policy and operation of the Fed. The President appoints the Governors of the Fed and it operates mostly independently with powers given to it by the Congress. The over sight  of the Federal Reserve lies with the Congress. The Fed operates, essentially, as a ''fourth" branch of the Government that is suppose to be immune from political interference. The politicians, for the most part, follow this "arms length" policy when it comes to the Federal Reserve.

 
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