![]() ![]() acting as a lender of last resort Open market operations refer to the purchase or sale of to control the money supply. Therefore, it is argued the creation of the Federal Reserve itself was a violation of the Constitution. A central bank like the Federal Reserve in the United States can help banks survive a bank run by. The 10th Amendment also states the federal government is only to have those powers expressly granted to it. The United Kingdom, for example, does not, while the United States traditionally does. Critics of the Federal Reserve point out that the Constitution makes no reference to a centralized bank to carry out these actions. ![]() Among them are the power to borrow money on behalf of the United States and the power to coin money, establish currency and determine its value. Constitution lists most of what is commonly referred to as the Enumerated Powers of Congress. Some critics think the Federal Reserve is too tied to the private sector to be constitutional, noting that the presidents of the 12 regional Federal Reserve Banks are appointed by a board of directors mostly drawn from the private sector.Constitution does not specifically say a central bank is necessary it also does not say the government has the right to create a central bank. Those opposed to the Federal Reserve note that the U.S. Central Bank : The Federal Reserve machine is largely the valuable financial institution of the united states engaged in making reviews regarding capitalist.Some people are opposed to the existence of the Federal Reserve, the central bank of the United States, arguing that it is unconstitutional. ![]()
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