The representativeness of the Fed

  • Tomás Bastarreche Bengoa
DOI: https://doi.org/10.18543/ed-64(1)-2016pp227-260
Keywords: representation, monetary policy, tax policy, representation of economic or private interest, local representation

Abstract

The Federal Reserve, or the Fed, is the Central Bank of the US. As like another Central Bank its own conception has been under discussion. Nevertheless, the Fed has is founded by known procedures or proper legal basis on the sovereignty of a National State; the ECB is not. That circumstance makes them unmatched. Certainly the Fed expel the Executive from its governance in 1936, obtaining at the same time a status «whiting the government» and a federal and representative structure that set up its legal-constitutional basis. During the recent economic and financial crisis the Fed, expanding his competences and legal status to its last possibility, has proven to be an essential body for the governance of the National States and the global economic policy of the 21th Century.

Published online: 29 July 2016

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Published
2016-07-29
How to Cite
Bastarreche Bengoa, Tomás. 2016. “The Representativeness of the Fed”. Estudios De Deusto 64 (1), 227-60. https://doi.org/10.18543/ed-64(1)-2016pp227-260.
Issue
Vol. 64 No. 1 (2016)
Section
Special Issue

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