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:
“Women over fifty already form one of the largest groups in the population structure of the western world. As long as they like themselves, they will not be an oppressed minority. In order to like themselves they must reject trivialization by others of who and what they are. A grown woman should not have to masquerade as a girl in order to remain in the land of the living.”
—Germaine Greer (b. 1939)
“A structure becomes architectural, and not sculptural, when its elements no longer have their justification in nature.”
—Guillaume Apollinaire (1880–1918)
“Slumism is the pent-up anger of people living on the outside of affluence. Slumism is decay of structure and deterioration of the human spirit. Slumism is a virus which spreads through the body politic. As other “isms,” it breeds disorder and demagoguery and hate.”
—Hubert H. Humphrey (1911–1978)