The Bank of the United States faced opposition from which of the following?
A) local banks who resented the Bank's supervision
B) advocates of limited government who distrusted its power
C) farmers and small businesses who resented the Bank's interference with their ability to obtain loans
D) all of the above
D
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Which of the following statements about the central bank is TRUE?
A) Only the central bank may hold foreign reserves and intervene officially in exchange markets. B) Central banks have little power to alter macroeconomic conditions. C) Today, central banks' reserves consist largely of gold. D) The Federal Reserve holds only a small level of official reserve assets other than gold. E) Central banks never inject money into the economy.
Make the case for and against an independent Federal Reserve
What will be an ideal response?