Monetary Policy on the 75th Anniversary of the Federal Reserve System
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When the 12 District Banks of the Federal Reserve System opened their doors for business on November 16, 1914, few observers could have foreseen the Fed''s present role as a major, if not dominant, player in U. S. and world economic policymaking. After all, two previous attempts to create a central bank in this country had ended in failure. Moreover, much of the economic theory and institutional s...
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When the 12 District Banks of the Federal Reserve System opened their doors for business on November 16, 1914, few observers could have foreseen the Fed''s present role as a major, if not dominant, player in U. S. and world economic policymaking. After all, two previous attempts to create a central bank in this country had ended in failure. Moreover, much of the economic theory and institutional s...
Read more