5 ms·

I do not understand the claim the Fed is not a government agency?

darkstar999 1y ago
> Although an instrument of the U.S. government, the Federal Reserve System considers itself "an independent central bank because its monetary policy decisions do not have to be approved by the president or by anyone else in the executive or legislative branches of government, it does not receive funding appropriated by Congress, and the terms of the members of the board of governors span multiple presidential and congressional terms. https://en.wikipedia.org/wiki/Federal_Reserve https://en.wikipedia.org/wiki/Federal_Reserve
burnt-resistor 1y ago
They're an IA. https://en.wikipedia.org/wiki/Independent_agencies_of_the_United_States_federal_government https://en.wikipedia.org/wiki/Independent_agencies_of_the_Un... The for-profit ones (Amtrak, USPS, etc.) are called SOEs. The loan-related ones (Freddie Mae) are called GSEs.
- chrisweekly 1y ago
  IA - Independent Agency
  - scrozier 1y ago
    Thank you. While abbreviations are handy for those in the know, it's so helpful for general readers if one takes a moment to spell things out.
    - Dilettante_ 1y ago
      Respectfully, there's a Wikipedia link.
      - scrozier 1y ago
        Absolutely. And thank you for that.
whatevertrevor 1y ago
The Federal Reserve is an independent bank. An important detail the current US administration does not like.
- stephen_g 1y ago
  It's "independent" of the Government in the way that Congress could just legislate them to not be independent anymore tomorrow if they felt like it...
citizenpaul 1y ago
https://en.wikipedia.org/wiki/Federal_Reserve https://en.wikipedia.org/wiki/Federal_Reserve Although an instrument of the U.S. government, the Federal Reserve System considers itself "an independent central bank because its monetary policy decisions do not have to be approved by the president or by anyone else in the executive or legislative branches of government, it does not receive funding appropriated by Congress, and the terms of the members of the board of governors span multiple presidential and congressional terms."[11]

> Although an instrument of the U.S. government, the Federal Reserve System considers itself "an independent central bank because its monetary policy decisions do not have to be approved by the president or by anyone else in the executive or legislative branches of government, it does not receive funding appropriated by Congress, and the terms of the members of the board of governors span multiple presidential and congressional terms. https://en.wikipedia.org/wiki/Federal_Reserve https://en.wikipedia.org/wiki/Federal_Reserve

burnt-resistor 1y ago

They're an IA. https://en.wikipedia.org/wiki/Independent_agencies_of_the_United_States_federal_government https://en.wikipedia.org/wiki/Independent_agencies_of_the_Un... The for-profit ones (Amtrak, USPS, etc.) are called SOEs. The loan-related ones (Freddie Mae) are called GSEs.

chrisweekly 1y ago
IA - Independent Agency
- scrozier 1y ago
  Thank you. While abbreviations are handy for those in the know, it's so helpful for general readers if one takes a moment to spell things out.
  - Dilettante_ 1y ago
    Respectfully, there's a Wikipedia link.
    - scrozier 1y ago
      Absolutely. And thank you for that.

whatevertrevor 1y ago

The Federal Reserve is an independent bank. An important detail the current US administration does not like.

stephen_g 1y ago
It's "independent" of the Government in the way that Congress could just legislate them to not be independent anymore tomorrow if they felt like it...

citizenpaul 1y ago

https://en.wikipedia.org/wiki/Federal_Reserve https://en.wikipedia.org/wiki/Federal_Reserve Although an instrument of the U.S. government, the Federal Reserve System considers itself "an independent central bank because its monetary policy decisions do not have to be approved by the president or by anyone else in the executive or legislative branches of government, it does not receive funding appropriated by Congress, and the terms of the members of the board of governors span multiple presidential and congressional terms."[11]