The Federal Reserve- - Your Voice, Your Vote, Your Country
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The Federal Reserve-

Love it or hate it- it is a piece of our financial institutions and always will be. Agree with it or not, it has a duel mandate of low employment and contained inflation. They are a non-transparent quasi private agency that makes many nervous or worse. The Fed is run by a rotating Board of Governors, headed by the Chairman. They run regions canvassing the US and control all the banks and lending institutions within that region. They work with Treasury, and at the behest of the Presidency.
A critical piece about the Fed- they are not able to do it alone. So for good or for bad, they should not get the credit or the blame entirely. They can be a piece of the solution- but not a solution by itself. The policy they follow should mirror that of the US Gov’t. The policy they set should be focused exclusively on the US and exclusively on the needs of their mandates. Period. Those countries of the world need their backing, need their comments, or that the Fed wants to get involved should never happen- no matter how good the premise would be of WHY they would want to do that.
Idea-  Make what they do and what they could do much more transparent than it currently is. Where do they have their money? How big is their balance sheet? What options are on the table or could be? Who holds them accountable and how?
Idea-  Make the tiers of regional banks underneath the Fed abide by the policy directions given out. Why would the Fed be in charge of spurring job growth, but not be able to push new business development lending at the lower levels of banking? Why would banks be able to sit on huge amounts of capital, benefit by the lending spreads to their profitability, without actually doing real banking activities? The primary focus should be in supporting new business and capital expenditure outlays; with the understanding they make smart strategic safe loans within the parameters of the time.
Side note-     Several groups are carrying on about the gold standard. Bring it back. Why? And more importantly, How? Have you seen the price of gold? Imagine if you will that the dollar was pegged to it. WOW! Who controls the commodities markets? Speculators- people who are short term driving a tight market by injecting huge amounts of money and using geo-political events exaggerate the move. THAT is who you want controlling the value of our dollar? That seems more like the tail wagging the dog.

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