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The Fed is not run by private interests. The president appoints its members. It has a dual mandate of low inflation and low unemployment. So...?
by tedsanders 13y ago
The Fed is not run by private interests. The president appoints its members. It has a dual mandate of low inflation and low unemployment. So...?
- ferdo 13y agoThe Federal Reserve is owned by private interests with aspects of a public utility. It's the worst of public and private mixed in one package. As Justice Brandeis said, it's a private corporation in which the government has an interest. The Fed of SF has an interesting summary: > "Is the Federal Reserve a privately owned corporation?" > Yes and no. http://www.frbsf.org/education/publications/doctor-econ/2003/september/private-public-corporation http://www.frbsf.org/education/publications/doctor-econ/2003...