Please help with the following problem. Provide at least 300 words in the solution.
Why are economists against the notion of Congress having more power over the Federal Reserve?© BrainMass Inc. brainmass.com October 10, 2019, 5:28 am ad1c9bdddf
Problem: Why are economists against the notion of Congress having more power over the Federal Reserve?
Congress doesn't have control over the Fed. The Fed is actually a private organization and they control the money supply on several factors, none of which are directly controlled by Congress. When the Fed was first established, it purposely was not put under the direct control of government (including Congress) for a good reason, which is the reason why this is a bad idea. Within the different branches of government, we have what's called a system of checks and balances. This prevents any single branch of ...
The following posting helps with a macroeconomics problem. This solution thoroughly discusses why economists are against the notion of Congress having more power over the Federal Reserve. The explanation is given in 399 words.