The Fed's Independence

http://www.futureofcapitalism.com/2009/10/the-feds-independence

Earlier coverage here has noted that for an American government agency, the Federal Reserve is unusually independent. It's not funded by Congress, and its governors are not elected by the public. Rather, they are appointed for 14-year terms, during which they "may not be removed from office for their policy views." An article in the Financial Times today observes, however, that because of various factors, President Obama will by the end of 2011 have the opportunity to appoint six out of seven members of the Fed's board of governors.

by Editor  |  Oct 5, 2009 at 10:12 am Related Topics:  Federal Reserve receive the latest by email: subscribe to the free futureofcapitalism.com mailing list