Darby Quast, Chapter 10, Question 6

One thing that stood out to me while reading chapter 6 was the extreme importance of the Federal Reserve.  I found it interesting that despite this importance, the system is only made up of 12 banks and a seven-person board of governors. Wheelan says, "The Federal Reserve has tools with more  direct impact on the global economy than any other institution in the world, public or private." Controlling the growth of the economy is a very difficult task but a necessary one.  If it is not done right, it can lead to things like hyper inflation and recessions.  If done well, it can lead to growth and sustainability.  I found it very interesting that this job was left up to 7 people and a couple of banks.  I would think that because of its difficulty there would be many more people involved.