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    What are the Federal Reserve Banks' purposes?

    Question #107573. Asked by dj168. (Aug 01 09 1:42 AM)


    BRY2K

    		While the Federal Reserve is an independent institution, it is still accountable to Congress. The Constitution gives Congress the power to coin money and set its value. Congress delegated this power to the Federal Reserve in the 1913 Federal Reserve Act, but still maintains oversight authority.

    You'll find a neat article on the bank here (including its other chief purposes):

    http://www.thisnation.com/question/033.html





    Aug 01 09, 5:28 AM

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