Quote:
Originally Posted by karl262
If the argument is that a country should have control of its currency to avoid hazard, then the US Federal Reserve Bank (the entity that creates US dollars) should be a branch of the government.
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What part of the current setup makes them unaccountable? Why do they need to be a "branch" of the government, when they are accountable to congress?
Quote:
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The entire System is subject to oversight by the U.S. Congress….the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government.
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Is that not enough? Did you read the rest of the page I linked?