economy continues to strengthen but that's not the only reason for the divergence in monetary policy the central bank structures of both economic giants over that side of the atlantic and on the outside a very different e.c.b. is a european union institution in which eurozone member countries have voting rights the fed is regulated by u.s. law but his own by private banks it's governors and chip person chosen by the president the e.c.b. is objective is to maintain price stability keeping inflation inflation a close to below two percent the fed doesn't have those obligations its job is to prevent financial crises but it does like to see inflation around two percent as well the e.c.b. doesn't take the jobs market into account when making policy the fed i's employment extremely closely it's supposed to ensure full employment which it defines as no more than six percent of employees will americans to make