The Federal Reserve is intended to provide central control of the monetary system in order to alleviate financial crises.
But we’ve had well over 100 years of serious, constant inflation. Plus the Great Depression, which was a deflationary period. And things got crazy in the 70s under Carter. And 2007 was bad. And now this with Biden. We have serious oscillations in our money and it’s not clear to me that anyone is “alleviating financial crises”.
But, as a private corporation that is allowed to play with our nation’s money, I think the Federal Reserve Board is managing to enrich its members, so it’s all good.
It's part of the government.
The Federal Reserve is intended to transfer wealth from the population to the rich. The IRS is its enforcement arm. That is why the Federal Reserve was created in the middle of the night on Jekyll Island.
The Federal Reserve acts in the self interest of the Central banking system. We are simply enslaved in the system. High interest rates never benefit the middle and lower class.
Fortunately the Fed will soon be gone.