The statement included above is true.
The Federal Reserve is the US Central Bank. Its functions consist on controlling the money supply in order to soften recession periods, to maintain acceptable levels of inflation (price levels) and to ensure maximum employment figures.
The Federal Reserve is independent of the US goverment, its decisions do not need to be ratified by the President. This enables that the decisions taken are only triggered by economic aims and incentives, and there are no temptations, from the side of the goverment politicians, to use the mechanisms of the money supply to achieve short-term political or electoral goals. Money supply should be managed taking into account long-term economic objectives. Its independency from the goverment also makes it easier to approve policies than are unpopular but economically benefitial in the long-run, as afterwards, its Board of Directors will not be punished by the electorate.
However, the Federal Reserve works under the surveillance of the Congress.
Answer:
Based on his dying words, what did Squanto learn from the Pilgrims. He gained a belief in Puritan Christianity and hoped that the Englishmen's god would welcome him. Why did Metacom attack New England towns? ... Thousands of Native Americans, including Metacom died.
Explanation:
The doctrine incorporation of the constitution is guaranteed through the first ten amendments.
Through the Due Process clause of the Fourteenth Amendment, certain provisions of the first ten amendments of the United States Constitution, also known as the Bill of Rights, are made applicable to the states under the incorporation concept. Both administratively and substantively, incorporation is applicable.
The Supreme Court determined that the Bill of Rights only applied to the Federal government and to actions brought in federal courts before the doctrine (and the Fourteenth Amendment) were in place. The preamble to the Bill of Rights emphasizes the significance of the Bill of Rights in minimizing overreach by the newly constituted government.
Every state involved in the negotiations for the Constitution had varying degrees of worries with a too powerful Federal government. The Bill of Rights was obviously meant to place restrictions primarily on the federal authority, the Supreme Court ruled (see Barron v. City of Baltimore (1833)). States and state courts were free to enact such legislation at their discretion.
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