Hillary Clinton has a new plan for the Federal Reserve. No, it isn’t an audit. She wants more women and minorities and people who know nothing about banking to be included in the Federal Reserve process.
For those unversed in the vagaries of America’s currency system, the Federal Reserve was created in 1913 in order to help deal with financial panics. The Reserve was charged with acting as a bank of last resort – ensuring that depositors didn’t lose their money in times of panic. The Reserve was also charged with manipulating currency, essentially, in order to “promote sustainable growth, high levels of employment, stability of prices to help preserve the purchasing power of the dollar and moderate long-term interest rates.”
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