Search Results
Showing results 1 to 10 of approximately 83.
(refine search)
Speech
Monetary aggregates and monetary policy at the Federal Reserve: a historical perspective
a speech at the Fourth ECB Central Banking Conference, Frankfurt, Germany
Journal Article
Beginnings
Journal Article
Why did FDR's bank holiday succeed?
After a month-long run on American banks, Franklin Delano Roosevelt proclaimed a Bank Holiday, beginning March 6, 1933, that shut down the banking system. When the banks reopened on March 13, depositors stood in line to return their hoarded cash. This article attributes the success of the Bank Holiday and the remarkable turnaround in the public's confidence to the Emergency Banking Act, passed by Congress on March 9, 1933. Roosevelt used the emergency currency provisions of the Act to encourage the Federal Reserve to create de facto 100 percent deposit insurance in the reopened banks. The ...
Journal Article
Milton Friedman and U.S. monetary history: 1961-2006
This paper, using extensive archival material from several countries, brings together scattered information about Milton Friedman's views and predictions regarding U.S. monetary policy developments after 1960 (i.e., the period beyond that covered by his and Anna Schwartz's Monetary History of the United States). The author evaluates these interpretations and predictions in light of subsequent events.
Working Paper
Milton Friedman and U.S. monetary history: 1961-2006
This paper brings together, using extensive archival material from several countries, scattered information about Milton Friedman?s views and predictions regarding U.S. monetary policy developments after 1960 (i.e., the period beyond that covered by his and Anna Schwartz?s Monetary History of the United States). I evaluate these interpretations and predictions in light of subsequent events.
Journal Article
The tale of another chairman
Journal Article
Origins
Journal Article
Crises before and after the creation of the Fed
The Federal Reserve was created 100 years ago in response to the harsh recession associated with the Panic of 1907. Comparing that recession with the Great Recession of 2007?09 suggests the Fed can mitigate downturns to some extent. A statistical analysis suggests that if a central bank had lowered interest rates during the 1907 panic the same way the Fed did during the 2008 financial crisis, gross domestic product would have contracted two percentage points less than it actually did.
Journal Article
Interview with Allen H. Meltzer
The author of A History of the Federal Reserve and architect of the Shadow Open Market Committee shares his thoughts on everything from failures of the Fed to international monetary reform.