If it's not part of the Federal Government, then just exactly what is it's affiliation, & what is it's purpose?
Obviously it has a tremendous influence on our economy, but for whose benefit?
The Banks received their Bailouts, but the Fed kept interest rates so low that the banks can't make any money by loaning those funds; consequently, it's had little discernable positive effect on the everyday lives of those trying to get a job, refinance their homes, start a business,etc. & yet the banks are back making money & able to pay their superstars the same luxurious bonuses that they've become accustomed to.
I say "samo, samo" is a lot more palatable to the general population providing they share some of those dollars. I don't mean freebees, I'm talking good old fashioned loans at reasonable interest rates so the entire populace that's willing/wanting to participate in the old American Dream can do so.
The Fed has too much power for a pseudo-agency, and they interfere too much with market forces.
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