{"id":6736,"date":"2020-11-15T09:13:30","date_gmt":"2020-11-15T09:13:30","guid":{"rendered":"http:\/\/onlineclassesguru.com\/?p=6736"},"modified":"2020-11-15T09:13:30","modified_gmt":"2020-11-15T09:13:30","slug":"the-u-s-congress-and-the-president-should-have-enough-leverage-and-power-to-control-the-federal-reserves","status":"publish","type":"post","link":"https:\/\/onlineclassesguru.com\/index.php\/2020\/11\/15\/the-u-s-congress-and-the-president-should-have-enough-leverage-and-power-to-control-the-federal-reserves\/","title":{"rendered":"The U.S. Congress and the President should have enough leverage and power to control the Federal Reserve\u2019s"},"content":{"rendered":"<style type=\"text\/css\"><\/style><p>Part 1: Respond to the discussion below:<br \/>\n\u0095 \u2018The U.S. Congress and the President should have enough leverage and power to control the Federal Reserve\u2019s actions in both the short and long run.\u0080\u009d<br \/>\n\u0095 \u2018The Federal Reserve should be independent from political pressure in designing and implementing monetary policy.\u0080\u009d<\/p>\n<p>*** 150 + Words response ***<\/p>\n<p>Part 2: Respond to classmate\u2019s response below:<br \/>\n\u201cI believe that since its inception\u00a0in 1913, our forefathers\u00a0and their predecessors\u00a0in the U.S. Congress had the insight from other central banking institutions from Europe\u00a0that closely resemble our own to rightfully give the FED its independence\u00a0from political pressure in designing and implementing monetary policy. The main reasons I would argue\u00a0are the time consistency problem and trust in monetary policies. Successful monetary policy requires a long time horizon (1). Our elected politicians tend to think in short term horizons of their re-election. This type of thinking can initiate incredible harm for the long term effects of the economy for short term gain. We see this this today with POTUS tweeting about the FED chairman on lowering interest rates when the stock market dips for political gain. Politicians cannot even agree on fiscal policy, and their track record for fiscal policy is not so good. Just look at our national debt.<br \/>\nTrust in an independent FED for monetary policies is even more important. As we know, if consumers, creditors, lenders, and borrowers lose faith in monetary policy (like the Great Recession scenarios) the whole system can stall and possibly collapse. I would argue that an independent\u00a0committee like the FMOC, which is constructed of educated and seasoned economists, bankers, and financiers (ie; experts), should be at the helm of something so vital\u00a0to our way of life. Would you want a politician\u00a0to perform\u00a0surgery on you, or a trained surgeon? The independence\u00a0of their decisions and control of their own budgets are vital to implementing their policies so that they can do their job without fear of reprisals from politicians. This trust is shown through their transparency and accountability, albeit economic jargon, we see the FMOC publish goals and publicly report progress, and update these reports as needed. This gives the general public, business, and financial\u00a0players a road map for our\u00a0economy and foreign economies, so they can make financial decisions based on sound judgment.\u00a0I would assume that the these public servants get very few accolades for a job that\u00a0is so very important for our standard of living and way of life.\u00a0\u201d<\/p>\n<p>*** 50 + Words response ***<\/p>\n<p><center><a href=\"http:\/\/onlineclassesguru.com\/orders\/ordernow\"><img decoding=\"async\" src=\"https:\/\/encrypted-tbn0.gstatic.com\/images?q=tbn:ANd9GcTyj99p60XCLyLk1htB7-1neRt8-2QdnenNlQ&usqp=CAU\"target=\"_http:\/\/onlineclassesguru.com\/orders\/ordernow\"\/><\/center><p>","protected":false},"excerpt":{"rendered":"<p>Part 1: Respond to the discussion below: \u0095 \u2018The U.S. Congress and the President should have enough leverage and power to control the Federal Reserve\u2019s actions in both the short and long run.\u0080\u009d \u0095 \u2018The Federal Reserve should be independent from political pressure in designing and implementing monetary policy.\u0080\u009d *** 150 + Words response ***&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6736","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.0 - 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