What are similarities and differences between Greece and U.S Federal Reserve Banks?

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What are similarities and differences between Greece and U.S Federal Reserve Banks?
Can someone please help me out with listing of differences and similarities between Central Bank Of Greece and U.S Federal Reserve Banks.

Silver Asked on September 2, 2019 in Business & Finance.
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    Besides the one where the US government has the resources to back the Federal Reserve policy’s and guarantee’s and Greece doesn’t?JOKE

    USA
    he Federal Reserve (“the Fed”), the U.S. central bank, can buy U.S. government bonds as well. The Fed can also create money (sometimes metaphorically called “printing money”) simply by entering an appropriate credit on its balance sheet and spending it. When the Fed uses this newly created money to purchase bonds directly from the government, it is financing the government deficit. Economists call the Fed’s direct purchase of government bonds “monetizing the deficit.” By such direct purchases of bonds that finance the deficit, the Fed can fund government spending in an emergency, should it choose to do so. Monetizing the deficit also significantly expands the money supply, which pushes down interest rates, which can also help stimulate the economy.

    GREECE The 17 countries in the eurozone, however, relinquished their ability to print money, expand their money supplies, and lower interest rates when they adopted the euro as their common currency. Only the European Central Bank—known as the ECB—can authorize the “printing of euros,” and the ECB maintains control over the money supply of the eurozone.

    Unlike the Fed, the ECB does not have a dual mandate to pursue low employment as well as low inflation. The ECB’s authority is limited to maintaining low inflation, known as “price stability,” which the ECB defines as an inflation rate below 2%.

    And the ECB is prohibited from directly buying government bonds. The ECB is authorized to buy government bonds only on the “secondary” bond market, when original purchasers resell them.

    Star Answered on September 2, 2019.
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