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
Famous quotes containing the word structure:
“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)
“Vashtar: So it’s finished. A structure to house one man and the greatest treasure of all time.
Senta: And a structure that will last for all time.
Vashtar: Only history will tell that.
Senta: Sire, will he not be remembered?
Vashtar: Yes, he’ll be remembered. The pyramid’ll keep his memory alive. In that he built better than he knew.”
—William Faulkner (1897–1962)
“Man is more disposed to domination than freedom; and a structure of dominion not only gladdens the eye of the master who rears and protects it, but even its servants are uplifted by the thought that they are members of a whole, which rises high above the life and strength of single generations.”
—Karl Wilhelm Von Humboldt (1767–1835)