The Federal Reserve : a new history / Robert L. Hetzel.
"A new and critical history of one of America's most important institutions In The Federal Reserve System: A New History, Robert Hetzel draws on a 43-year career as an economist in the central bank to trace the influence of the Fed on the American economy. Hetzel compares period in which the Fed sta...
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| Language: | English |
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Chicago :
The University of Chicago Press,
2022.
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| Physical Description: | xviii, 688 pages : illustrations ; 24 cm |
| Format: | Book |
Contents:
- In search of the monetary standard
- The organization of the book
- What causes the monetary disorder that produces real disorder?
- The creation of the Fed
- Why the Fed failed in the Depression: the 1920s antecedents
- A fiat money standard: free reserves operating procedures and gold
- A narrative account of the 1920s
- Attacking speculative mania
- The Great Contraction: 1929-33
- The Roosevelt era
- The guiding role of governor Harrison and the NY Fed
- Contemporary critics in the Depression
- From World War II to the 1953 Recession
- LAW (Lean-against-the-Wind) and long and variable lags
- The early Martin Fed
- From price stability to inflation
- The Burns Fed
- Stop-go and the collapse of a stable nominal anchor
- The Volcker Fed and the birth of a new monetary standard
- The Greenspan FOMC
- The Great Recession
- The 2008 financial crisis
- The Eurozone crisis
- Recovery from the Great Recession
- Covid-19 and the Fed's credit policy
- Covid-19 and the Fed's monetary policy: flexible-average-inflation targeting
- How can the Fed control inflation?
- Making the monetary standard explicit
- What is the optimal monetary standard?
- Why is learning so hard?