Who has a more direct control on the economy between the Fed Chairman and Minister of Finance?

Niyi Briggs

Well Known

Member

Nov 27, 2022

7,835

318

Dex

$0.000

Raw Dex

$0.200

• Jan 18, 2023

• #1

The Fed ( CBN in Nigeria) is the monetary policy agency of any country. The Minister of Finance is a government appointee that manages government finances.

Who among the Fed Chairman( CBN Governor) and the minister of finance has a direct decision impact on the economy.

 

Magnus2022

Notable

Member

Nov 25, 2022

4,080

333

Dex

$0.000

Raw Dex

$0.080

• Jan 19, 2023

• #2

Both have direct impact on the economy. Both have different roles and functions. Central bank role is to regulate and monitor other financial institutions . Minister of finance plays a different role. The function of ministry of finance is to oversee the government expenditure, budget planning, government revenues, payment of salaries

 

flower

Notable

Member

Jan 9, 2023

4,978

86

Dex

$0.004

Raw Dex

$0.001

• Feb 16, 2023

• #3

They both have their own role to play but the fed chairman is pivotal in running the economy of the country because he's the one to raise or reduce the interest rate in order to regulate the economy.

 

Niyi Briggs

Well Known

Member

Nov 27, 2022

7,835

318

Dex

$0.000

Raw Dex

$0.200

• Feb 20, 2023

• Thread starter
• #4

I think the governor of the apex bank has more to do with the stability of the country's curenvy. So the apex bank is in control of the economy.

 

IB D

Well Known

Member

Jan 6, 2023

5,453

194

Dex

$0.000

Raw Dex

$0.201

• Mar 2, 2023

• #5

There are two aspects to economy management. The first one is fiscal policy coordinated by the ministry of finance and the second one is monetary policy coordinated by the fed or central bank in Nigeria. The two have to balance out for a strong economy.