Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Posting-Version: version B 2.10.2(pesnta.1.2) 9/5/84; site idsvax.UUCP Path: utzoo!watmath!clyde!burl!ulysses!mhuxr!mhuxn!ihnp4!pesnta!idsvax!steiny From: steiny@idsvax.UUCP (Don Steiny) Newsgroups: net.invest,net.misc Subject: Re: Re: Re: Re: "World Banking Crisis" -- what is it? Message-ID: <182@idsvax.UUCP> Date: Fri, 28-Jun-85 12:49:01 EDT Article-I.D.: idsvax.182 Posted: Fri Jun 28 12:49:01 1985 Date-Received: Sat, 29-Jun-85 03:33:53 EDT References: <11154@brl-tgr.ARPA> <2287@sun.uucp> <161@idsvax.UUCP> <173@idsvax.UUCP> <491@leadsv.UUCP> Distribution: net Organization: Independent Consultant - C/UNIX, Natural Language Lines: 29 Xref: watmath net.invest:696 net.misc:8171 > > Isn't the Federal Reserve seperate from any branch of the Federal > Government. I thought Congress and the President may apoint members, > but after that, they had little control of the policies. The > administration (as mentioned above) I take to mean the Executive Branch > or Reagan. I thought I remember him criticizing Volker and the Federal > reserve for keeping interest rates higher than neccesary and thus keeping > interst rates and unemployment up as well. > Scott A. Stewart > LMSC This is correct. There was a tense period a few years back when Volker came up for reappointment. Reagan reappointed him. I have read editorials that say that though there have been some disagreements, generally the Fed (as it is called) is in line with the exective branch's policies. It is an incredible thing, though, that the Federal Reserve is an independent branch of the government. In civics in grade school we were taught that there are the exective, legislative, and judicial branches of the government. Oh well, they also taught us that if we were children in "Red China," they would put us in cages (which would have been a great relief to my teachers). pesnta!idsvax!steiny Don Steiny - Computational Linguistics 109 Torrey Pine Terr. Santa Cruz, Calif. 95060 (408) 425-0832