Structure
The Federal Reserve System has a "unique structure that is both public and private", and is described as operating "independently within the government, but independent of it". The System does not require public funding, and derives its authority and purpose from the Federal Reserve Act, which was passed by Congress in 1913 and is subject to Congressional modification or repeal. The four main components of the Federal Reserve System are (1) the Board of Governors, (2) the Federal Open Market Committee, (3) the twelve regional Federal Reserve Banks, and (4) the member banks throughout the country.
Read more about this topic: Federal Reserve System
Famous quotes containing the word structure:
“Communism is a proposition to structure the world more reasonably, a proposition for changing the world. As such, we have to analyze it and, if we deem it reasonable, act upon it.”
—Friedrich Dürrenmatt (1921–1990)
“... the structure of a page of good prose is, analyzed logically, not something frozen but the vibrating of a bridge, which changes with every step one takes on it.”
—Robert Musil (1880–1942)
“It is difficult even to choose the adjective
For this blank cold, this sadness without cause.
The great structure has become a minor house.
No turban walks across the lessened floors.
The greenhouse never so badly needed paint.”
—Wallace Stevens (1879–1955)