2006-08-02 02:45:34 · 3 answers · asked by justanotheruser 5 in Politics & Government ➔ Other - Politics & Government
Because the Federal Reserve was created by an Act of Congress in 1913, and when it was set up, it was written so that the President appoints, (and the Senate Confirms) the chairman of the Board (and it's 6 other governors). It's purposely non-political (or at least it tries to be) so that there is a division between the Nation's Monetary and Fiscal Policies.
2006-08-02 03:14:25 · answer #1 · answered by conservativeguyfromnc 2 · 1⤊ 0⤋
The question of ownership only applies to the individual 12 branches where members own shares.
The Federal Reserve *System* is clearly a government controlled organization overseen by congress, and whose leaders are appointed by the President.
2006-08-02 12:49:15 · answer #2 · answered by gray shadow 6 · 0⤊ 1⤋
Not only is it not a government agency, it is privately owned....and I ahve not a clue as to why, I would imagine that we said we will give you the power to make our money, but we get to pick the one that runs the Fed.....
2006-08-02 10:07:06 · answer #3 · answered by Anonymous · 0⤊ 0⤋