While all supreme court justices are appointed, from my understanding only the chairman is appointed correct? Everyone that works for the fed is not necessarily appointed?
Maybe we say it is private but the government serves as the board :)
Seeing the tension over the years the Chairman, the President, and Congress implies to me that the government does not have absolute authority over the Fed.
All the board members are appointed. From their website:[1]
>The Board of Governors--located in Washington, D.C.--is the governing body of the Federal Reserve System. It is run by seven members, or "governors," who are nominated by the President of the United States and confirmed in their positions by the U.S. Senate.
Not everyone who works for the Fed is appointed, but that is also true of the Supreme Court, Congress, the FBI, or any other part of the government. The leaders are political appointees and they oversee a bureaucratic system that includes many workers who are ostensibly apolitical.
>Seeing the tension over the years the Chairman, the President, and Congress implies to me that the government does not have absolute authority over the Fed.
Once again, just like the Supreme court. Both of these entities are designed to be more independent of the day-to-day political squabbles of the president and Congress.
Maybe we say it is private but the government serves as the board :)
Seeing the tension over the years the Chairman, the President, and Congress implies to me that the government does not have absolute authority over the Fed.