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.
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Famous quotes containing the word structure:
“The question is still asked of women: “How do you propose to answer the need for child care?” That is an obvious attempt to structure conflict in the old terms. The questions are rather: “If we as a human community want children, how does the total society propose to provide for them?””
—Jean Baker Miller (20th century)
“A structure becomes architectural, and not sculptural, when its elements no longer have their justification in nature.”
—Guillaume Apollinaire (1880–1918)
“Each structure and institution here was so primitive that you could at once refer it to its source; but our buildings commonly suggest neither their origin nor their purpose.”
—Henry David Thoreau (1817–1862)