1. European Central Bank and the Federal Reserve System
... On 13 October 1998 the Governing Council of the European Central Bank (ECB) announced the ECB's stability oriented monetary policy strategy to guide its monetary policy decisions in Stage Three of Economic and Monetary Union (EMU). This strategy was confirmed and further clarified on 8 May 2003 following a thorough evaluation by the Governing Council. It comprises a quantitative definition of the primary objective of ... ECB answers only to the European Parliament. The Federal Reserve, by comparison, answers to the US Congress, and as pointed out in the Fed's "Purposes and Functions", i...
- Word Count: 2990
- Approx Pages: 12
- Has Bibliography
- Grade Level: Undergraduate