Overall while the Federal Reserve will always be controversial in some of the actions that they take the financial system is overall more secure and more stable thanks the Federal Reserve, I believe the Federal Reserve benefits us more then it hurts us and it would be a mistake to do away with it.
Why would you pay a bunch of greedy officials to control our economy (Federal Reserve) when you already have a bunch of greedy officials to control our economy (congress) that you could get to do the same job for no extra pay? This argument being further supported by the fact that congress is already obligated to do said job under article 1 section 8 sentence 5 of the constitution, better yet- pawn off the job to the treasurer it’s not like the president and his cabinet are any more democratically elected than the federal reserve board of governors, its already his/her job to control the economy, so why are we shelling all this money off to congress to not do their job, and to the federal reserve to do someone else’s job, then to the treasurer for supposedly doing congresses job but pawn it off to the federal reserve, now you could argue that the treasurer manages the government’s finances, including spending, and borrowing money, but if the treasurer is the official with the authority to loan money, why is all the money were loaning getting pinned on Obama and not the treasurer?
The fed is at the heart of the Crony in our capitalism. Founded by giant banks, most of whom today are still giant banks (even more giant... Thanks to the fed!). The supposed positives of the Fed are not causal of their policy. Meanwhile the true consequences, unintended or otherwise, are rarely explored and brought to light under some strange guise of necessary secrecy.
The pros of the Federal Reserve will outweigh the cons when it comes to economy. The federal reserve needs to make the economy more stable first before they can continue to pay down their debt or it will be just be a constant cirle that everyone keeps going around in.
No, the pros of the federal reserve do not outweigh the cons. The federal reserve operates to keep the economy stable and the money supply steady, but this type of fiat currency banking system can lead to massive financial manipulation, uncontrollable inflation, and rampant government and business corruption. There should be reform.
The pros of the Federal Reserve do not outweigh the cons. While the Federal Reserve is a central bank that keeps the individual banking system functioning at a proper level and limits the dangers of a bank being dissolved, the Federal Reserve is a dangerous organizations because it is unregulated by the government and doesn't answer to anyone except its own board of directors.