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mothballedyesterday at 5:00 PM1 replyview on HN

  What does it mean that the Federal Reserve is "independent within the government"?

  The Federal Reserve, like many other central banks, is an independent government agency
The federal reserve calls themselves "within the government" and a government agency. Isn't it fraud (and indeed wire fraud) to falsely represent yourself as a government agency to induce a financial transaction?

https://www.federalreserve.gov/faqs/about_12799.htm


Replies

throwaway290yesterday at 5:18 PM

> Isn't it fraud (and indeed wire fraud) to falsely represent yourself as a government agency to induce a financial transaction?

Hmm what transaction it induces?

You'll need to check the law that created the Fed. Maybe it makes sure that doing whatever the fed needs to do the job is not a crime

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