Monetary Issues Federal Reserve Board is the Central bank of the united states. It monitors the financial system risks and engages locally and abroad to ensure that it supports a healthy economy for the country’s businesses, communities, and households. I believe FED is more important than our elected leaders, who are full of “self,” They are primarily accountable for the citizens who voted for them. In most occasions, elected leaders make decisions based on the values and interests of the members of the area of their jurisdiction. Fed operates under congress and is led by a team of governors appointed by the president. Therefore, it is free from any political influence, hence stable operations.
With the help of the Fed, the country can make decisions free from political influence, hence good economic outcomes for the residents. It makes independent decagons mainly on the country’s financial and economic status. The governors elected by the president and vented by the senate are skilled and competent; hence they can make informed decisions to run the agency. Being independent, the agency is not answerable to citizens or elected citizens. Hence there can be a need for more transparency and accountability.
States budgetary situation.
The law requires all states to have a balanced budget system for their expenditures and revenues. The state’s revenue for 2022/2023 is approximately $ 58 billion, while the expenditure is 60.4 billion. The state’s picture could be healthier since it has a deficit of $ 240 million. To minimize this deficit, the state should implement new taxation laws to increase taxes. Both amendments in state laws and regulations and modifications in federal financing affect our state’s budgetary status. Most state programs, such as infrastructure, health, and education, rely on state funds to run their programs. Therefore, budgetary issues negatively influence decision-making to run these state programs. Therefore, the state should manage its funds well and cut unnecessary expenses to support its programs effectively.
