I think there is some historical evidence people will start to care about the Fed when inflation gets high enough. I believe some drastic actions were taken in the 70s to preserve the system... It didn't lead exactly to scrutiny on the Fed -- I guess they dodged it -- but there was enough discontent to motivate the government to do something. Which is interesting because the Fed is not a part of the government.
Which is interesting because the Fed is not a part of the government.
The Federal Reserve was created by the Federal Reserve Act in 1913, all branch banks have .gov websites, and the Board of Governors are appointed by the President and confirmed by the Senate.
But sure, the Federal Reserve is totally a private bank and not part of the government.
I think there is some historical evidence people will start to care about the Fed when inflation gets high enough. I believe some drastic actions were taken in the 70s to preserve the system... It didn't lead exactly to scrutiny on the Fed -- I guess they dodged it -- but there was enough discontent to motivate the government to do something. Which is interesting because the Fed is not a part of the government.
The Federal Reserve was created by the Federal Reserve Act in 1913, all branch banks have .gov websites, and the Board of Governors are appointed by the President and confirmed by the Senate.
But sure, the Federal Reserve is totally a private bank and not part of the government.
Who owns it?
Janet Yellen.