Summary
Polls show the top issue among voters this election year is their fears about the fate of the economy. Voters can grill congressional candidates at town hall meetings and on call-in radio shows and they can get a fix on the presidential candidates' economic plans through campaign news coverage. But the fate of the economy may be most influenced by a seven-member body that does not answer to the American voter.
The Federal Reserve, observers such as former Treasury Secretary Robert Reich have said, is a largely unaccountable fourth branch of government. The Fed has had an active hand in the expanding economies of the late 1980s and late 1990s. And now, Mr. Reich asserts, it is making a critical decision about which is the lesser of two evils, recession or inflation, which in turn affects every American's wallet.See the full content of this document
Extract
Unelected Economy Czars
The Fed was created in 1913 as a means of providing for a more "elastic" currency; that is, to expand and contract mone...
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