Reference no: EM132530809
1. The Federal Reserve Board has enormous power over people's lives with its power to set and influence policy that determines monetary policy in the United States. Do you think this is proper for a democracy to provide the FED with so such power? How is the FED held accountable?
2. Do you believe that the roles of government should change from era to era, or should the US determine the proper role of government and try to maintain it through the ages?
3. Explain Executive Power in the US Constitution and briefly the process by which it developed over the years. Do you think the Framers should have been more specific about the powers of the presidency? Should the country try to make it more specific today?
4. I do believe that this is proper for a democracy to provided such power to FED. Without the FED the economy would face two problem, which are recessions that can lead into depressions, and inflation. The FED needs to have power to endures the country will not fall into economic trouble. In class professor McWeeney stated that the FED has the power to increase interest rates to control inflation, and the power to decrease interest rates so that theres more money in the economy to create more business and jobs so there wont be a recession. The FED needs these power to try to put the economy in a sweet spot. The FED is held accountable to the government and public. The FED does this by being transparent and giving and annual report to congress.
5. I believe that the roles of the government should be changed from era to era. My main reason the roles should be changed is because major changes are constantly happening in the field of law. For example, the progressive era and modern era had several economic reforms that had taken place including increased regulation, anti-trust activity, application of an income tax, raise on social insurance programs, etc. Throughout this time, the government gave women the right to vote. I believe the economy is growing rapidly due to employment relationships, better technology, education, new polices, social and economic changes. This is the reason why the roles of the government should be changed from era to era.