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It's weirder than that. The Board of Governors of the Federal Reserve is an agency of the US federal government. The system as a whole has "a combination of pub
by daxelrod 4y ago
It's weirder than that. The Board of Governors of the Federal Reserve is an agency of the US federal government. The system as a whole has "a combination of public and private characteristics".
See the section "The U.S. Approach to Central Banking" of https://www.federalreserve.gov/aboutthefed/structure-federal-reserve-system.htm https://www.federalreserve.gov/aboutthefed/structure-federal... .
- stazz1 4y agoThanks for this clarification. I had a hunch it was a weird mix of the two. In reality I'm glad congresspeople don't have a lens into the money printing business.
- astrange 4y agoBut they do. They control the Treasury and US Mint, who are the real money printers. The Fed controls the price of money for everyone else.