Final draft - A Legal Perspective THE HISTORY OF THE...

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A Legal Perspective 1 THE HISTORY OF THE FEDERAL RESERVE: A legal Perspective By William Johnson Public Policy Formulation and Implementation NOV10 Sec A Instructor: Douglas Buck
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A Legal Perspective 2 Abstract The history of the Federal Reserve is one shrouded in controversy. The Federal Reserve is established to regulate the monetary policies of the United States. However a major point of contention historically is based on whether or not the Federal Reserve is legal under the Constitution of the United States. This literature will examine the origins of the Federal Reserve, its impact of the economy and also historic opposition to the Federal Reserve based on the interpretation of the Constitution of the United States. This paper will attempt to develop an analysis of the management approach used by the Federal Reserve in terms of the relationship between the Federal Reserve and the United States congressional judicial and legislative branches of government. This analysis will challenge the legal nature of the relationship between central banking and government. An investigation of the need for the Federal Reserve demands an exploration of historical events which led to its inception and functioning within government
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A Legal Perspective 3 Table of Contents Abtract…………………………………………………………………………………………….2 Literatre Review …………………………………………………………………………………. .4 In the Beginning was Jekyll Island………………………………………………………………. .5 The Federal Reserve and the US Consttution……………………………………………………. .6 Current Functioning……………………………………………………………………………….7 Alternative Solutions……………………………………………………………………………. ..9 Summary…………………………………………………………………………………………10
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A Legal Perspective 4 Literature Review As the Founding Fathers forged a new nation from the dust and turmoil of revolution, A constitution is drafted as the cornerstone of democracy and a testement to the moral courage of its authors. The framers of the constitution wanted to safeguard the new nation from the pitfalls of tyranny and slavery. At the core of political debate was the idea of the emergence of a central bank. A legal research of the Federal Reserve requires an examination of literature which supports the legitimacy of this institution as well literature refuting its legitimacy. Experts on both sides of the spectrum give a similar account of the history of the Federal Reserve System. Government policy regarding the Federal Reserve requires an understanding of how this
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This note was uploaded on 07/29/2011 for the course ECON 545 taught by Professor Hodges during the Spring '11 term at Keller Graduate School of Management.

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Final draft - A Legal Perspective THE HISTORY OF THE...

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