Thefederal bureaucracy retains significant authority that it can use tomake decisions without the influence of the executive, judiciary andthe legislature too. More important, the fact that they are able toinfluence the nations shows that they are also a ‘fourth branch’of the government. In this case, the independent agencies tend tohave a significant impact on the nation since they will make choicesthat will make sure that the government is on the right path. Thisessay will reveal that the federal bureaucracy is a ‘fourth branch’of the government since they will make decisions without theinfluence of the other bodies.
Thearticle FED:The Next Rate Hike should happen `Relatively Soon`by Akin Oyedele clarifies how the Federal Reserve plays a huge rolein the government. In this case, it reveals that the Federal Reservewill increase the interest rates. The approach is also anotherimportant part that will contribute to the market’s stability inthe nation. In particular, the interest rate will boost the retailssales since the consumer spending has been seen as the main forcebehind the economic growth so far (Oyedele, 2016). The author alsoinsists that keeping interest rates low will be one way of chasingthe investors that are supposed to help the government. At the sametime, the same scenario will misprice the assets such as the bondsthat keep the economy running. The committee had evaluated the marketconditions and determined that the interest rates were the bold moveto make in such a situation. In fact, the agency has been able tomake various decisions that are focused on improving the way that thenation operates (Gluck,2011).In this scenario, they do not have to consult the government whilemaking such decisions since they have the authority to decide on whatis right for the entire nation as well.
Thefederal bureaucracy has been considered as the fourth branch of thegovernment since it plays a huge role in making decisions. In thiscase, they have been able to influence the activities that areevident in the society. For instance, the Federal Reserve is one ofthe independent agencies that have received the authority to makeimportant decisions in the nation. The federal bureaucracy is one ofthe crucial aspects in the nation, and it has been able to handlecertain issues without consulting the other arms of the governmentsuch as the executive or even the legislative (Park,S. M., & Joaquin, 2012).Hence, the Oyedele’s article has also illustrated one example wherean independent agency has a committee that makes decisions that willhelp the nation in transacting and strengthening the economy in thelong-run. In particular, the Federal Reserve has the role ofincreasing the interest rates that will attract more investors. Someof them might be afraid to place their funds on various activitiessince the yields will be low based on the reduced interest rates.Hence, making the decisions will attract more of the investors thatwill be ready to spend more because the profits will be immense inthe end.
Inconclusion, the federal bureaucracy is a part of the government thathas independent authority to undertake any decision. In fact, thepolicy they suggest will be helpful in running the government withoutthe interference of the executive, legislature as well as thejudiciary. In this case, the Federal Reserve shows how theindependent agencies work in improving the wellbeing of the nation.For instance, the decision to increase the interest rates is crucialin facilitating the investments and the development.
Gluck,A. R. (2011). Intrastatutory Federalism and Statutory Interpretation:State Implementation of Federal Law in Health Reform and Beyond. TheYale Law Journal,534-622.
Oyedele,Akin (2016 Nov, 23). FED: The next rate hike should happen`relatively soon.` BusinessInsider.Retrieved from:http://www.businessinsider.com/federal-reserve-november-2016-meeting-minutes-2016-11
Park,S. M., & Joaquin, M. E. (2012). Of alternating waves and shiftingshores: the configuration of reform values in the US federalbureaucracy. InternationalReview of Administrative Sciences,78(3),514-536.