They founded what is now called the Federal Reserve system.
created the federal reserve system
created the federal reserve system -AKG<3
A "gridlocked" government.
No branch of government has ultimate control. Thankfully we have something called separation of powers (checks and balances). Example Congress legislative branch make laws. the president executive branch enforces them. the courts the judicial branch decides whether the law are constitutional. They interpret the law. Sadly over the years congress and given powers and extended the powers to the president.
The legislative branch of government, primarily Congress, has the power to check many of the president's actions. It can pass laws, override presidential vetoes, and approve or reject presidential appointments and treaties. Additionally, Congress holds the power of the purse, allowing it to control government funding, which can influence the implementation of presidential policies. Furthermore, Congress can initiate impeachment proceedings against the president if deemed necessary.
The president's power to control banking policies and reopen banks as he saw fit primarily stems from the emergency powers granted during a financial crisis, such as the Great Depression. The Emergency Banking Act of 1933 allowed the president to declare a bank holiday, assess the stability of banks, and reopen those deemed solvent. This legislation was enacted to restore public confidence in the banking system and stabilize the economy. Additionally, the president's authority is supported by the broader powers of the federal government to regulate interstate commerce and ensure economic stability.
In the US (and many other similar governmental systems), congress serves to write legislation and pass laws. They also have checks on the president and the courts through impeachment proceedings, and they control how the government spends money.
No, since it is a part of the president's cabinet, the president controls it.
What give Congress so much power is that they control the purse strings.
The President of the US controls the Executive Branch of the government.
The president and congress together control the fiscal policy.
The Federal Reserve Board has substantial influence or control over monetary policy, interest rates, and banking regulations, but it does not have control over fiscal policy, which is determined by Congress and the federal government. Fiscal policy involves government spending and taxation decisions that are separate from the Fed's monetary policy tools.