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+24 votes
What are the reasons Congress has not eliminated the Federal Reserve?
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Because it controls monetary policy and supply of currency in our country. It is an integral part of our democracy and it would be a really bad idea to get rid of it. And as far as I know, there has been no discussion about getting rid of it anyway...
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Why would they?
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Neither possible or wise, they set the standard for the country and in some aspects the world to keep inflation in check. It has been useful in the past at doing this.
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they cant. the federal reserve is not part of the government.
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Why should they? What are you talking about?
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You would have a depression on your hands and your question doesn't make any sense.
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The "Federal Reserve" is more or less a private entity (despite the word "federal"). Congress couldn't vote to get rid of a private industry . . . at least not while a few people think the Constitution means something. Besides, the Federal Reserve keeps the reigns in on inflation controls, if it was done away with people would figure out that the american Dollar is worthless.
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