See what CafeMoms are saying about saving time this holiday season..
I took several economics courses in college but don't recall any professor clarifying that the Federal Reserve is not actually a true government agency. It is not subject to any checks and balances. Alan Greenspan himself, the former chairman of the Fed admitted the following to Tim Lehrer in a 2007 interview when asked what the Fed's relationship is to the Presidency:
"Well, first of all, the Federal Reserve is an independent
agency, and that means, basically, that there is no other agency of
government which can overrule actions that we take. So long as that is
in place and there is no evidence that the administration or the
Congress or anybody else is requesting that we do things other than
what we think is the appropriate thing, then what the relationships are
don't, frankly, matter."
Just what kind of control does the Fed exert? I found out more eye opening information in this video than I ever did in my college courses: