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The Federal Reserve System!

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Q: What is the main agency for making monetary policy intended to be formally beyond the control of the president and Congress?
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Continue Learning about American Government

What dollar bill is President Hamilton on?

Hamilton was never president and never was a serious candidate for president. He was the first secretary of the treasury and did much to establish the US monetary system and put the new nation on a firm financial basis. His face is on the $10 bill.


What role does government play in finance?

major corporations and the financial institutions with which they associate are regulated by the U.S. Treasury, which implements fiscal and monetary policies; and the U.S. Congress, which enacts laws and regulations, intersect in their interests


What legislative power has the bureaucracy assumed?

The Federal Reserve has the power to establish monetary policy, like inflation, deflation, and interest rates. This power is not given to any entity by the Constitution except Congress, making the Fed's activities unconstitutional. Similar things can be said of almost any agency you can think of: the IRS, SEC, FTC...They all have the ability to make rules and at times the ability to enforce them. The problem is that the Constitution vests legislative power in Congress only and executive power in the President's office only. Currently, and for the past 100 years, we have unelected bureaucratic government officials usurping the power (or, Congress and the President have let their power be usurped, depending on your perspective) that is not given them by the Constitution. How will the people have any recourse in this matter, if the people cannot elect someone in the place of the existing bureaucracy?


What is the monetary value assigned to a product or service?

Price


What is the executive branch of our government?

This Branch administers and carries out the laws passed by the Legislative Branch. It is headed by the President. The executive branch basically makes sure the laws that the Legislative branch makes are followed. In other words, they carry out laws made by the Legislative branch. Except for Congress and the Federal Courts, practically ever activity of federal government is carried out by the executive branch.

Related questions

Which agency is responsible for monetary policy beyond the control of the President and Congress?

federal reserve:)


What is the monetary unit for France?

Formally the French franc, now the Euro.


Which of the following conclusions can be reached based on the information in the reading passagePresident Garfield believed silver and gold should be used to ensure a sound monetary system?

President Garfield believed silver and gold should be used to ensure a sound monetary system.


What two main types of legislation can Congress pass?

Monetary and non-monetary, for instance.


What house of Congress writes laws that are monetary in origin?

The House of Representatives.


When was imf establish?

The IMF, or International Monetary Fund, was established in 1944 at the Bretton Woods Conference. It was formally created in 1945.


Who prepares the monetary policy?

The central bank (United States Federal Reserve in the US) is responsible for monetary policy. Fiscal policy on the other hand is managed by the government (United States Department of the Treasury in the US)


What monetary bill has the picture of President Lincoln?

5 dollar bill


Why couldn't Continental Congress pay for war?

In the beginning they had no monetary system and when they created one it was not based on anything.


Who determines th US Fiscal Policy?

US fiscal policy is determined by the federal government in office at the time of the policy.


Which president devised the American monetary system of dollars and cents?

Thomas Jefferson, mostly.


The world bank was founded at the un monetary and financial conference in bretton woods New Hampshire in 1944 by name is it more formally known?

International Bank for Reconstruction and Development