Question: Who wrote the preamble to the constitution of the country that owns the banks of the body responsible for US monetary policy?

The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System. <SEP> federations often employ the paradox of being a union of states, while still being states (or having aspects of statehood) in themselves. for example, james madison (author of the us constitution) wrote in federalist paper no. 39 that the us constitution "is in strictness neither a national nor a federal constitution; but a composition of both. in its foundation, it is federal, not national; in the sources from which the ordinary powers of the government are drawn, it is partly federal, and partly national..." this stems from the fact that states in the us maintain all sovereignty that they do not yield to the federation by their own consent. this was reaffirmed by the tenth amendment to the united states constitution, which reserves all powers and rights that are not delegated to the federal government as left to the states and to the people. <SEP> It was not proposed or discussed on the floor of the convention beforehand. The initial wording of the preamble did not refer to the people of the United States, rather, it referred to people of the various states, which was the norm. The Preamble was placed in the Constitution during the last days of the Constitutional Convention by the Committee on Style, which wrote its final draft, with Gouverneur Morris leading the effort. In earlier documents, including the 1778 Treaty of Alliance with France, the Articles of Confederation, and the 1783 Treaty of Paris recognizing American independence, the word ``people ''was not used, and the phrase the United States was followed immediately by a listing of the states, from north to south. The change was made out of necessity, as the Constitution provided that whenever the popularly elected ratifying conventions of nine states gave their approval, it would go into effect for those nine, irrespective of whether any of the remaining states ratified. <SEP> For example, in the United States, the Federal Reserve is in charge of monetary policy, and implements it primarily by performing operations that influence short - term interest rates. Monetary policy concerns the actions of a central bank or other regulatory authorities that determine the size and rate of growth of the money supply. <SEP> jürgen stark (born 31 may 1948 in gau-odernheim, germany) is a german economist who has been a member of the executive board of the european central bank (ecb) from june 2006, but announced in september 2011 he would resign later that year. within the executive board he is responsible for economics and for monetary analysis and is often referred to as the "chief economist" of the ecb, although this is not his official title.