The Federal Reserve System : a history

Wells, Donald R. 1932- (Author).

Summary: "This history begins with an overview of American banking practices before 1914. The events leading to the Reserve's creation and its early tribulations are then documented. Subsequent chapters track the Federal Reserve's role during times of financial and military crisis, its relationship to each presidential administration, and its changes in leadership over the years. The Alan Greenspan era is covered in detail, as are major changes in the Fed's operating procedures since the 1980s. An appendix lists all members of the Federal Reserve Board of Governors, from its formation until 2003"--Jacket.

Record details

ISBN: 9780786418800 (softcover : alk. paper)
ISBN: 078641880X (softcover : alk. paper)
Physical Description: viii, 215 p. ; 23 cm.
print
Publisher: Jefferson, N.C. : McFarland & Co., c2004.

Content descriptions

Bibliography, etc. Note:

Includes bibliographical references (p. 203-209) and index.

Formatted Contents Note:

U.S. banking before the Federal Reserve -- The Aldrich-Vreeland Act prevents a panic in 1914 -- Original uncertainty regarding exercise of Fed authority -- The Federal Reserve's role in World War I -- The discovery of a new tool for the Federal Reserve -- The Fed in the 1920s -- The Fed in the 1929-1933 contraction -- Policy changes in the Roosevelt Administration -- The Fed's role in World War II -- The Fed between World War II and the Korean War -- The Korean War and the accord with the Treasury -- "Bills only" as an act of independence -- Operation twist and President Kennedy's tax cut -- Chairman Martin's battle with President Johnson over inflation -- Nixon replaces Martin with Burns and inflicts price controls on the economy -- Supply shocks in the 1970s make unemployment and inflation worse -- Carter replaces Burns with Miller and inflation worsens -- The Volcker era begins and the Fed gets control over all banks -- Volcker's Fed slows inflation at a cost -- Volcker is reappointed but there are changes on the board -- The Greenspan era begins -- The Fed's response to the thrift crisis -- Economists dominate the board under Greenspan -- Changes in the Fed's operating procedure after the 1980s.