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Congress And Monetary Policy Essay

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Below is an essay on "Congress And Monetary Policy" from Anti Essays, your source for research papers, essays, and term paper examples.

There is a definite need for Congress in the United States.   It serves many roles such as making laws, implementing national policy and watching over the other two branches of government.   These are just a few of the duties of our U.S. Congress.   In the Constitution it states, "Congress shall have power to regulate commerce with foreign nations, among the several States, and with the Indian tribes." Has Congress taken this power to far and does it have too much power over commerce.  
The Congress of the United States is viewed by many as the largest branch in government.   Some people might even say it is the most important.   This is due to the roles Congress plays in our government.   Congress is responsible for the lawmaking in our country as well as implementing national policy.   The U.S. Congress must also implement national policy.   The Congress must regulate commerce in order to create a prosperous economy.   It is up to Congress to monitor the growth of the economy and be ready to act if necessary. Congress has the power to implement monetary policy in which they decrease taxes to induce spending during a slow economic period.   They can also increase taxes if there is a threat of inflation.   It takes time to get the policy going so Congress must be able to detect future economic problems in order for it to be effective.
It has been debated that Congress regulates the Federal Reserve and its monetary policy.   The Federal Reserve System is the nation's central bank. It was established by an Act of Congress in 1913 and consists of the seven members of the Board of Governors in Washington, DC and twelve Federal Reserve District Banks. Congress structured the Fed to be independent within the government. What that means is although the Fed is accountable to Congress; it is insulated from day-to-day political pressures. This reflects the conviction held both the US and in many other countries that the people who control the country's money supply should be...

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