4 ms·
The Federal Reserve chairman and all of the board of governors are appointed by the President. Banks have no involvement in the Federal Reserve. There are no Fe
by ianburrell 3y ago
The Federal Reserve chairman and all of the board of governors are appointed by the President. Banks have no involvement in the Federal Reserve. There are no Federal Reserve shareholders.
Banks are involved with the regional Federal Reserve Banks. But the Federal Reserve Banks are controlled by the Federal Reserve and have pretty minor powers.
- kolanos 3y ago> Banks have no involvement in the Federal Reserve. Sure they don't. That's why Ben Bernanke now serves on the board of two of them (Citadel, PIMCO). And Alan Greenspan serves on three (Deutsche Bank, PIMCO, Paulson & Co). If you've never heard of PIMCO, it is the investment bank that advises central banks on their policies and investments, including the Federal Reserve. But banks have no involvement, of course. > PIMCO is one of the largest investment managers, actively managing more than $2 trillion in assets for central banks, sovereign wealth funds, pension funds, corporations, foundations and endowments, and individual investors around the world. [0] [0]: https://en.wikipedia.org/wiki/PIMCO https://en.wikipedia.org/wiki/PIMCO