Departments

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Federal Reserve

  • SOURCE: Foreign Policy
    8/27/2022

    Is Jerome Powell Following History to Fight Inflation?

    by Adam Tooze

    Jerome Powell has drawn history into his public rationale for raising interest rates, arguing that his Fed won't repeat the problems of inaction of the 1970s. Is he risking a recession by ignoring the different causes of inflation today? 

  • SOURCE: Made By History at the Washington Post
    8/11/2022

    Treating Citizens as Consumers Results in One-Sided Fed Decisions

    by Suzanne Kahn

    A set of political choices over the course of the 20th century placed the concerns of consumers over those of workers. While most Americans fit both roles, this priority leaves a great deal of racial inequality in place. 

  • SOURCE: The New Republic
    9/21/2020

    The Libertarian Ideas That Wrecked the Fed

    by Bruce Bartlett

    Friedman’s ardent libertarian faith was central to his monetarist thinking; like all libertarians, he was always extremely wary of anything that would cause the size of government to grow.

  • SOURCE: TomDispatch
    4/5/2020

    Wall Street Wins – Again: Bailouts in the Time of Coronavirus

    by Nomi Prins

    If ground-up solutions to help ordinary Americans and small businesses aren’t adopted, one thing is predictable: once this crisis has been “managed,” we’ll be set up for a larger one in an even more disparate world.

  • SOURCE: Bloomberg News
    7-31-13

    Stephen Mihm: The Woman Who Broke Into the Fed

    Stephen Mihm, an associate professor of history at the University of Georgia, is a contributor to the TickerThe jockeying to succeed Ben Bernanke as the chairman of the Federal Reserve Board appears to pit Fed Vice Chairman Janet Yellen against a field that includes former Treasury Secretary Larry Summers and former Vice Chairman Donald Kohn. If Yellen becomes the first woman to hold the post -- despite a few sexist swipes from Summers' supporters -- she’ll owe a special debt to Nancy Teeters, who broke the glass ceiling at the Fed when she became the first female member of the board in 1978.

  • SOURCE: NYT
    6-22-13

    Roger Lowenstein: The Federal Reserve’s Framers Would Be Shocked

    Roger Lowenstein is writing a history of the Federal Reserve.ONE hundred years ago today, President Woodrow Wilson went before Congress and demanded that it “act now” to create the Federal Reserve System. His proposal set off a fierce debate. One of the plan’s most strident critics, Representative Charles A. Lindbergh Sr., the father of the aviator, predicted that the Federal Reserve Act would establish “the most gigantic trust on earth,” and that the Fed would become an economic dictator or, as he put it, an “invisible government by the money power.”