The Federal Reserve has overstepped its mandate and should not only be reigned in, but it should also be audited and then eliminated unless it can become transparent and follow the guidelines of the Constitution rather than just playing god with our money system and with the United States and world economy.
I do agree that the Federal Reserve has overstepped its mandate. It was originally set up separate from the government and was not suppose to be influenced by the federal government. Since 2008 they have held the United States economy in their hands and have held a strong arm over the interest rate, holding it all time consistent lows. The Fed also oversaw the bailing out of banks that should have been allowed to fail so that the economy could rebound. I believe the Fed has operated in ways that it was not originally intended to over the last five years and their attempts to fix or sway the economy have done nothing but put a band-aid over an every growing problem that will eventually surface in ways that can not be masked.
Yes, I agree that the Federal Reserve has overstepped its mandate, because the economy of the United States is more or less at the will of the Federal Reserve. It was never intended for the Federal Reserve to set interest rates and the myriad of other things that it does to interfere with the economy.
"Congress shall have the authority ; to coin money, regulate the value the rift, and of foreign coin, fix the standard weights and measures", Article 1 Section 8 Sentence 5 of the constitution, the federal reserve shouldn't exist at all in the first place, it overstepped its bounds an infinite many times over.
No, I do not think that the federal reserve has overstepped its mandate at all, and I think that they do a really good job. They have been doing what they do for a long time, and they know what they are doing, and how to make sure they dont mess up.
The United States Federal Reserve is one of the most sound financial institutes the world has ever seen. If it has overstepped its mandate, then every minting place in the world throughout history has done the same. No, the Federal Reserve has done a great job and is a shining example.