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Yes created by an act of Congress but is not under the jurisdiction of congress or the president, apart from appointments.
by natchy 6y ago
Yes created by an act of Congress but is not under the jurisdiction of congress or the president, apart from appointments.
- Meekro 6y agoThe Fed is completely under the US government's control. Congress created it by passing a law, and could pass another law to restructure it if they ever wanted to. The President fills the Board of Governors who run it with his chosen nominees, and can remove and replace them at will. How much more "jurisdiction" do you want?
- kemofo 6y agoThe government has passed laws against insider trading, speeding, and murder, and I wouldn't say these things are "completely under the US government's control". The fed does what it wants, congress is powerless to stop it, even though there are pieces of paper with laws written on them.