4 ms·
The fed of course is accountable to laws passed by the government but not laws about the government (since it is not a part of the government). It is a wonderf
by andrewmutz 2y ago
The fed of course is accountable to laws passed by the government but not laws about the government (since it is not a part of the government).
It is a wonderful thing that it is independent from the government, and history has shown, across nations, that political independence of central banks is necessary to control the money supply well. Political leaders are more interested in short-term issues and have repeatedly demonstrated an inability to responsibly manage money supply issues.