Federal
Reserve bank has a strange relationship with the government. Officially
it is a government agency. The workers at the Federal Reserve bank do not work for
the government, but they have similar salary grades.
As with
most government jobs, they have good benefits and some have gyms. and
even pool tables. Some full-timers I knew worked for 4 hours a day. So, by
characteristics, they're pretty much government jobs.
Their main function is serving as a banker to its member banks. It prints and controls the distribution of money and hence inflation/deflation.I feel sorry for those workers who 'burn' money 8 hours a day. Why can't them keep some before they're burned? I also wonder why the bank does not give some sample at the end of the tour like the beer company or candy company do.
In any case, the government and the Federal Reserve bank sleep on the same bed.
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