Now that you've completed this course on the Federal Reserve System, you know more about the organization of the Fed than the majority of the public. For example, you have learned that the Board of Governors is a federal government agency, while the 12 Reserve Banks are independent of the government. A lot of thought went into this arrangement to ensure the best "mix" of government oversight and monetary independence. How would you explain the makeup of the Federal Reserve System, and in what ways does this design serve the government and the public?

Record your summary by clicking on the discussion board and responding to the thread titled "The Federal Reserve: Independence and Oversight."