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Create an analogy that explains how banks create money

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Assignment

"The Federal Reserve System" Please respond to the following:

• Choose a position to defend:

• "The U.S. Congress and the President should have enough leverage and power to control the Federal Reserve's actions in both the short and long run."

• "The Federal Reserve should be independent from political pressure in designing and implementing monetary policy."

"Monetary Control" Please respond to the following:

• Create an analogy or metaphor that explains how banks create and destroy money - one that would be understood by someone with absolutely no balance.

Reference no: EM131192971

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