The laws that created the Fed give the institution only vague recommendations about what goals it should pursue,and they do not tell the Fed how to pursue whatever goals it might choose.

Question

Quizplus · Accepted Answer

This statement is true. The Federal Reserve Act, which created the Federal Reserve in 1913, outlines the general objectives of the Fed, such as promoting maximum employment, stable prices, and moderate long-term interest rates. However, it does not provide specific guidance on how the Fed should achieve these goals, leaving it up to the institution's discretion.

The Laws That Created the Fed Give the Institution Only