The Federal Reserve Download Ebook PDF Epub Online

Author : S. H. Axilrod
Publisher : Oxford University Press on Demand
Release : 2013-06-06
Page : 141
Category : Business & Economics
ISBN 13 : 0199934487
Description :


Discusses the legal basis for the Federal Reserve and the powers the institution can carry out, highlights key events in U.S. postwar financial history, and explains how monetary policy is tied to the political and social scenes.


Author : Mary Anne Goley
Publisher : Rowman & Littlefield Publishers
Release : 2020-10-21
Page : 262
Category : Business & Economics
ISBN 13 : 1538145383
Description :


Democracy’s Medici: The Federal Reserve and the Art of Collecting is a profile of the central bank seen from the perspective of the author’s unorthodox art-historical career as founding Director of the Fine Arts Program of the Board of Governors of the Federal Reserve System. This is an insider’s view by an art historian about the Federal Reserve culture, larger-than-life personalities, and the fine arts function set against the broader backdrop, both of the Fed’s banking and regulatory mission, and the economic, political, and social context. During her 31-year tenure, Goley organized over 110 exhibitions on a range of subjects from New York Graffiti artists to the first U.S. exhibit of Charles Rennie Mackintosh. Adding a diplomatic mission to her portfolio, beginning in 1988, Goley worked with central banks and museums in Austria, Greece, Hungary, Israel, Poland, Romania, Spain, Switzerland, and The Netherlands to bring exhibits to the Federal Reserve. Scholarly contributions included the exhibitions: The Hague School and Its American Legacy, The Paintings of Eduard J. Steichen, AustrianBiedermeier, and Polish Constructivism, among others. Two exhibitions resulted in foreign decorations from The Netherlands and Luxembourg. In 2006 Goley organized The Face of Contemporary Art in China, the first of its kind in Washington, DC, for the Federal Reserve Board. She was twice knighted, in 1982 by Queen Beatrix of The Netherlands and in 1988 by the Grand Duke of Luxembourg. With little guidance, she built a remarkable art collection where there was none. J. Carter Brown, Director of the National Gallery of Art, wrote of the Fed’s program, "It is a model for others in our field to see someone take a challenge and make so much of it."


Author : James Livingston
Publisher : Cornell University Press
Release : 1989-11
Page : 250
Category : Political Science
ISBN 13 : 9780801496813
Description :


In Origins of the Federal Reserve System, James Livingston approaches this controversial topic from a fresh perspective, asking how, during this era, a new order of corporation men made itself the preeminent source of knowledge on all significant economic issues and thereby changed the character of public and political discourse in the United States.


Author : Stephen H. Axilrod
Publisher : OUP USA
Release : 2013-07-25
Page : 256
Category : Political Science
ISBN 13 : 9780199934478
Description :


The Federal Reserve: What Everyone Needs to Know is about how things work in practice for the Fed: how it makes decisions, what actions it takes, and the actual effects it has on the economy and society.


Author : Robert L. Hetzel
Publisher : Cambridge University Press
Release : 2008-03-17
Page : 408
Category : Political Science
ISBN 13 : 9780521881326
Description :


The Monetary Policy of the Federal Reserve details the evolution of the monetary standard from the start of the Federal Reserve through the end of the Greenspan era. The book places that evolution in the context of the intellectual and political environment of the time. By understanding the fitful process of replacing a gold standard with a paper money standard, the conduct of monetary policy becomes a series of experiments useful for understanding the fundamental issues concerning money and prices. How did the recurrent monetary instability of the 20th century relate to the economic instability and to the associated political and social turbulence? After the detour in policy represented by FOMC chairmen Arthur Burns and G. William Miller, Paul Volcker and Alan Greenspan established the monetary standard originally foreshadowed by William McChesney Martin, who became chairman in 1951. Monetary Policy explains in a straightforward way the emergence and nature of the modern, inflation-targeting central bank.


Author : Ben Bernanke
Publisher : Princeton University Press
Release : 2015-02-22
Page : 144
Category : Business & Economics
ISBN 13 : 0691165572
Description :


Collects the best of a series of lectures that U.S. Reserve Chairman Ben Bernanke gave about the financial crisis at George Washington University in 2012, offering insight into the guiding principles behind the Fed's activities and the lessons to be learned from its handling of recent economic challenges.


Author : Peter Conti-Brown
Publisher : Princeton University Press
Release : 2017-10-03
Page : 360
Category : Business & Economics
ISBN 13 : 1400888417
Description :


The independence of the Federal Reserve is considered a cornerstone of its identity, crucial for keeping monetary policy decisions free of electoral politics. But do we really understand what is meant by "Federal Reserve independence"? Using scores of examples from the Fed's rich history, The Power and Independence of the Federal Reserve shows that much common wisdom about the nation's central bank is inaccurate. Legal scholar and financial historian Peter Conti-Brown provides an in-depth look at the Fed's place in government, its internal governance structure, and its relationships to such individuals and groups as the president, Congress, economists, and bankers. Exploring how the Fed regulates the global economy and handles its own internal politics, and how the law does—and does not—define the Fed's power, Conti-Brown captures and clarifies the central bank's defining complexities. He examines the foundations of the Federal Reserve Act of 1913, which established a system of central banks, and the ways that subsequent generations have redefined the organization. Challenging the notion that the Fed Chair controls the organization as an all-powerful technocrat, he explains how institutions and individuals—within and outside of government—shape Fed policy. Conti-Brown demonstrates that the evolving mission of the Fed—including systemic risk regulation, wider bank supervision, and as a guardian against inflation and deflation—requires a reevaluation of the very way the nation's central bank is structured. Investigating how the Fed influences and is influenced by ideologies, personalities, law, and history, The Power and Independence of the Federal Reserve offers a uniquely clear and timely picture of one of the most important institutions in the United States and the world.


Author : Eustace Mullins
Publisher : Lulu.com
Release : 2018-09-15
Page : 196
Category : Business & Economics
ISBN 13 : 0359087450
Description :


From the Foreword. In 1949, while I was visiting Ezra Pound who was a political prisoner at St. Elizabeth's Hospital, Washington, D.C. (a Federal institution for the insane), Dr. Pound asked me if I had ever heard of the Federal Reserve System. I replied that I had not, as of the age of 25. He then showed me a ten dollar bill marked ""Federal Reserve Note"" and asked me if I would do some research at the Library of Congress on the Federal Reserve System which had issued this bill. Pound was unable to go to the Library himself, as he was being held without trial as a political prisoner by the United States government. After he was denied broadcasting time in the U.S., Dr. Pound broadcast from Italy in an effort to persuade people of the United States not to enter World War II. Franklin D. Roosevelt had personally ordered Pound's indictment, spurred by the demands of his three personal assistants, Harry Dexter White, Lauchlin Currie, and Alger Hiss, all connected with Communist espionage.


Author : Ron Paul
Publisher : Grand Central Publishing
Release : 2009-09-16
Page : 224
Category : Political Science
ISBN 13 : 044656818X
Description :


A provocative and controversial treatise that argues we cannot actually fix the broken economy without discussing the 800-lb gorilla in the room: the Federal Reserve. Most people think of the Fed as an indispensable institution without which the country's economy could not properly function. But in End the Fed, Ron Paul draws on American history, economics, and fascinating stories from his own long political life to argue that the Fed is both corrupt and unconstitutional. It is inflating currency today at nearly a Weimar or Zimbabwe level, a practice that threatens to put us into an inflationary depression where $100 bills are worthless. What most people don't realize is that the Fed -- created by the Morgans and Rockefellers at a private club off the coast of Georgia -- is actually working against their own personal interests. Congressman Paul's urgent appeal to all citizens and officials tells us where we went wrong and what we need to do fix America's economic policy for future generations.


Author : Allan H. Meltzer
Publisher : University of Chicago Press
Release : 2003
Page : 808
Category : Business & Economics
ISBN 13 : 0226520005
Description :


This first volume of Allan H. Meltzer's history of the Federal Reserve System covers the period from the Federal Reserve's founding in 1913 through the Treasury-Federal Reserve Accord of 1951. To understand why the Federal Reserve acted as it did at key points in its history, Meltzer draws on meeting minutes, correspondence, and other internal documents (many made public only during the 1970s) to trace the reasoning behind its policy decisions. He explains why the Federal Reserve remained passive throughout most of the economic decline that led to the Great Depression, and how the Board's actions helped to produce the deep recession of 1937 and 1938. He also highlights the impact that individuals had on the institution, such as Benjamin Strong, governor of the Federal Reserve Bank of New York in the 1920s, who played a large role in the adoption of a more active monetary policy by the Federal Reserve. From attempts to build a new international financial system at the London Monetary and Economic Conference of 1933 to the Bretton Woods Agreement of 1944 that established the International Monetary Fund and the World Bank, Meltzer also examines the influence the Federal Reserve has had on international affairs.


Author : Donald R. Wells
Publisher : McFarland
Release : 2017-01-27
Page : 224
Category : Political Science
ISBN 13 : 9780786482191
Description :


The Federal Reserve banking system was created in 1913 in an effort to bring coherence to nationwide banking practices and prevent crises like the financial panic of 1907. Since it began operating in 1914, the Federal Reserve has played a crucial role in determining American financial policy and practice. It is largely an entity unto itself, operating independently, rarely subject to the political machinations of Congress or the presidency. Yet few Americans know how it works, and even fewer know anything of its history. This history of the Federal Reserve begins by giving an overview of American banking practices before the Federal Reserve's formation. The events leading to the Reserve's creation, and its early trials and tribulations, are then documented. Subsequent chapters track the Federal Reserve's history: its role during times of financial and military crisis, its relationship to each presidential administration, and the Fed's evolution as its leadership has changed over the years. The history wraps up with the Alan Greenspan era, explaining major changes in the institution's operating procedures since the 1980s. An appendix lists all members of the Federal Reserve Board of Governors, from its formation until 2003.


Author : William Greider
Publisher : Simon and Schuster
Release : 1989-01-15
Page : 798
Category : Business & Economics
ISBN 13 : 0671675567
Description :


Reveals how the Federal Reserve under Paul Volcker engineered changes in America's economy


Author : M.T. Belongia
Publisher : Springer Science & Business Media
Release : 2012-12-06
Page : 278
Category : Business & Economics
ISBN 13 : 9401138885
Description :


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 structure that have given rise to monetary policy's influence in recent years were not yet in place. Indeed, it would take the Fed more than 20 years to learn (by accident!) the power of open market operations. Clearly, the modern Federal Reserve System has found itself with powers and responsibilities that were not envisioned by its founders. These proceedings from a conference held at the Federal Reserve Bank of St. Louis on October 19-20, 1989, examine U. S. monetary policy from a variety of perspectives: a historical review of how it has affected aggregate economic performance; a positive analysis of why the Federal Reserve has chosen particular policy strategies; a review of normative arguments about what the Fed should pursue as its policy objective; a critique of how the Fed's "output"-the flow of monetary services in the U. S. economy-is measured; and, finally, a debate over the Fed's ability to influence real economic activity by changing the nominal quantity of money in circulation.


Author : A. Jerome Clifford
Publisher : University of Pennsylvania Press
Release : 2016-11-11
Page : 436
Category : Business & Economics
ISBN 13 : 1512801348
Description :


The Federal Reserve Act became law on December 23, 1913. The need for the new monetary system for which this law provided was traceable to the frequently stated causal connection between crises and failure in the banking and currency system and crises and failure in commerce, industry, and agriculture. The supporters of the law argued that the continued prosperity and growth of the nation demanded that monetary malfunctions be cured. The powers and responsibilities given to the new system were enveloped in structural arrangements designed to assure the organization itself as well as the nation that there would be competent, adequate, and independent authority to provide for a more efficient monetary system. Although unique, the solution was not simple in either structure or operation, for besides protecting itself from the dangers of government or private ­banker domination, the Federal Reserve System had to win and keep the help and cooperation of this same government and these same private banks. The System maintained its independence in two ways. First, the Federal Reserve System found its fundamental meaning in the "governmental" function delegated to it by Congress—the formation and execution of credit and monetary policy for public purposes. Yet it was set apart from the ordinary legislative and executive departments of the government. Second, the System worked to achieve its purposes by acting through and with the cooperation of the nation's private financial interests. Yet it was separate from those interests. The Federal Reserve System was designed to cooperate and still be independent. How it promoted this harmony, and yet avoided domination was its glory and its cross. It is of the history of this achievement that this book tells.


Author : Allan H. Meltzer
Publisher : University of Chicago Press
Release : 2010-02-15
Page : 696
Category : History
ISBN 13 : 9780226519852
Description :


Allan H. Meltzer’s critically acclaimed history of the Federal Reserve is the most ambitious, most intensive, and most revealing investigation of the subject ever conducted. Its first volume, published to widespread critical acclaim in 2003, spanned the period from the institution’s founding in 1913 to the restoration of its independence in 1951. This two-part second volume of the history chronicles the evolution and development of this institution from the Treasury–Federal Reserve accord in 1951 to the mid-1980s, when the great inflation ended. It reveals the inner workings of the Fed during a period of rapid and extensive change. An epilogue discusses the role of the Fed in resolving our current economic crisis and the needed reforms of the financial system. In rich detail, drawing on the Federal Reserve’s own documents, Meltzer traces the relation between its decisions and economic and monetary theory, its experience as an institution independent of politics, and its role in tempering inflation. He explains, for example, how the Federal Reserve’s independence was often compromised by the active policy-making roles of Congress, the Treasury Department, different presidents, and even White House staff, who often pressured the bank to take a short-term view of its responsibilities. With an eye on the present, Meltzer also offers solutions for improving the Federal Reserve, arguing that as a regulator of financial firms and lender of last resort, it should focus more attention on incentives for reform, medium-term consequences, and rule-like behavior for mitigating financial crises. Less attention should be paid, he contends, to command and control of the markets and the noise of quarterly data. At a time when the United States finds itself in an unprecedented financial crisis, Meltzer’s fascinating history will be the source of record for scholars and policy makers navigating an uncertain economic future.


Author : Carla Högermann
Publisher : GRIN Verlag
Release : 2012-08-21
Page : 13
Category : Business & Economics
ISBN 13 : 3656260818
Description :


Seminar paper from the year 2011 in the subject Economics - Monetary theory and policy, grade: 1,7, The FOM University of Applied Sciences, Hamburg, course: Advanced Business English, language: English, abstract: Since the European Monetary Union was established in 1999 the worlds political attention has been drawn to two main central banks: the European System of Central Banks and the Federal Reserve System. The legal basis of the European System of Central Banks is the Treaty establishing the European Community and the Statute of the European System of Central Banks and of the European Central Bank. Since it's estblishments the European Central Bank has played a central role in both European and global financial markets. The Federal Reserve System was signed into law by the Federal Reserve Act in 1913. Although the Federal Reserve System was established long before the European System of Central Bank there are several similarities in the ways the central banks operate and control the monetay policy of their nations. But the central banks also differ in certain ways. Whereas the Federal Reserve System was established in order to rearrange the financial system of the United States, the European System of Central Banks started business in order to create a single monetary policy. The following chapters will give a closer look into both systems and their monetary policies.


Author : John T. Woolley
Publisher : Cambridge University Press
Release : 1984
Page : 280
Category : Business & Economics
ISBN 13 : 9780521312479
Description :


The first book to describe and analyze the complex relationships between the Federal Reserve and the President, the Congress, bankers, and economists. Professor Woolley demonstrates that the Federal Reserve is very sensitive to a wide range of political influences.


Author : Sarah Binder
Mark Spindel
Publisher : Princeton University Press
Release : 2019-07-09
Page : 304
Category : Business & Economics
ISBN 13 : 069119159X
Description :


An in-depth look at how politics and economics shape the relationship between Congress and the Federal Reserve Born out of crisis a century ago, the Federal Reserve has become the most powerful macroeconomic policymaker and financial regulator in the world. The Myth of Independence marshals archival sources, interviews, and statistical analyses to trace the Fed’s transformation from a weak, secretive, and decentralized institution in 1913 to a remarkably transparent central bank a century later. Offering a unique account of Congress’s role in steering this evolution, Sarah Binder and Mark Spindel explore the Fed’s past, present, and future and challenge the myth of its independence.


Author : William Greider
Publisher : Simon & Schuster
Release : 1987
Page : 798
Category : Business & Economics
ISBN 13 :
Description :


Reveals how the Federal Reserve under Paul Volcker engineered changes in America's economy


Author : International Monetary Fund. Communications Department
Publisher : International Monetary Fund
Release : 2015-04-08
Page : 30
Category : Business & Economics
ISBN 13 : 149834254X
Description :


As the Federal Reserve’s statutory objectives are defined as specific goals for the U.S. economy—to pursue maximum sustainable employment and price stability—and its policy decisions are targeted to achieve these dual objectives, there might seem to be little need for its policymakers to pay attention to developments outside the United States. But such an inference would be incorrect: the state of the U.S. economy is significantly affected by the state of the world economy, and of course, actions taken by the Federal Reserve influence economic conditions abroad, which in turn spill back on the evolution of the U.S. economy and therefore must be taken into account in the Federal Reserve’s monetary policy choices. This Per Jacobsson Lecture first reviews the effect of the Federal Reserve’s monetary policies on the rest of the global economy, particularly emerging market economies. It then addresses prospective outcomes and possible risks associated with the normalization of the Federal Reserve’s policies. Finally, it discusses the Federal Reserve’s responsibilities in the world economy.