A nice paper which sums up quite a bit of US monetary history since formation of the Fed. It is written by monetary historians Robert Hetzel and Gary Richardson.
The United States Congress created the Federal Reserve System in 1913. The System consists of the Federal Reserve Board in Washington, D.C.; 12 Federal Reserve Banks; and thousands of member commercial banks. This entry describes the evolution of the System and of monetary policy from its foundation through 2013.
Posted in Academic research & research papers, Central Banks / Monetary Policy, Economist | Leave a Comment »
This question is actually posed to BIS’s Mr Hyun Song Shin. The interview reminds you of this post on death of economics. I mean such is the chaos in thinking and explanation. No one has a clue really.
He says based on the traditional economic story we should have had some inflation. But we don’t:
Posted in Discussion, Economics - macro, micro etc, Economist, Speech / Interviews | Leave a Comment »
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