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The U.S. Congress and the President should have enough leverage and power to control the Federal...

The U.S. Congress and the President should have enough leverage and power to control the Federal Reserve’s actions in both the short and long run.”

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Answer #1

Actually US Congress and the President have different roles and responsibilities than Federal Reserve. First is responsible for Fiscal policy of the country and later is responsible for monetary policy of the country.

Under Fiscal policy US government decides the various ways to boost economy and ensures healthy GDP growth rate, whereas Federal reserve via monetary policy ensures the right interest rate of the country and ensures there is no inflation.

So, Instead of US government controling Federal Reserve, both should work together to ensure there is balance in GDP growth rate and inflation numbers.

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