leftout on Nostr: Ok. So. Arguing about shit that is easily looked up makes all y’all look silly. The ...
Ok. So. Arguing about shit that is easily looked up makes all y’all look silly.
The Fed isn’t complicated to understand. The federal reserve system was set up to be autonomous and be isolated from day to day political pressures.
There is a governing board that is appointed by the president and approved by the senate. This board together with the 12 regional federal reserve bank presidents conduct monetary policy.
The 12 regional federal reserve banks are private corporations and elect their own boards where some appointments are by that bank branch and some are either approved by or are from the board of governors.
Part of the mandate of the banks is to provide information back to the board of Governors to use for setting monetary policy.
The 12 banks run themselves independently as private business with their main mandate being to provide payment services to banks, supervise and regulate banks, and execute monetary policy.
The 12 banks are self funding and any profit (they make a lot actually) is sent to the US treasury.
Isn’t there a god damned grammar rock song that explains this shit?
The Fed isn’t complicated to understand. The federal reserve system was set up to be autonomous and be isolated from day to day political pressures.
There is a governing board that is appointed by the president and approved by the senate. This board together with the 12 regional federal reserve bank presidents conduct monetary policy.
The 12 regional federal reserve banks are private corporations and elect their own boards where some appointments are by that bank branch and some are either approved by or are from the board of governors.
Part of the mandate of the banks is to provide information back to the board of Governors to use for setting monetary policy.
The 12 banks run themselves independently as private business with their main mandate being to provide payment services to banks, supervise and regulate banks, and execute monetary policy.
The 12 banks are self funding and any profit (they make a lot actually) is sent to the US treasury.
Isn’t there a god damned grammar rock song that explains this shit?