Why was the federal reserve system set up with 12 regional federal reserve banks rather than one central bank, as in other countries?

Why was the federal reserve system set up with 12 regional federal reserve banks rather than one central bank, as in other countries?



Answer: Because of traditional American hostility to a central bank and centralized authority, the system of 12 regional banks was set up to diffuse power along regional lines.

Comments

Popular posts from this blog

JAD Advantages and Disadvantages

Examine the collapse of Han. What factors explain how this occurred? How influential in Han Dynasty on Chinese History?

Summarize effective communication strategies in organizational hierarchies, and review the role and relevance of the organizational grapevine