you are viewing a single comment's thread
view the rest of the comments
[–] 1 point 7 months ago

The Federal Reserve system is independant of the US federal government.

Kinda. The board of governors is chosen by the president to 14-year terms, theoretically making them independent of any specific President's specific priorities. But there's a Supreme Court case heading when the President can fire the governors, which might effectively end or limit Fed independence.

The individual federal reserve banks also operate in their regions with a lot of leeway to meet local needs, and those are public/private partnerships where nationally chartered banks also have a voice in their operations.

  • source
  • parent