Diese umfassende Serie taucht tief in die komplexe Geschichte der Zentralbank der Vereinigten Staaten ein und verfolgt ihre Entwicklung von der Gründung bis zur Gegenwart. Sie untersucht entscheidende Momente, politische Veränderungen und die ökonomischen Philosophien, die die Institution geprägt haben. Leser erhalten Einblicke in Schlüsselfiguren, Kontroversen und die tiefgreifenden Auswirkungen auf die nationale und globale Wirtschaft. Dies ist eine unverzichtbare Lektüre für jeden, der sich für Geldpolitik und Finanzgeschichte interessiert.
Spanning the period from the institution's founding in 1913 to the restoration of its independence in 1951, this title chronicles the evolution and development of the Federal Reserve from the Federal Reserve Accord in 1951 to the first phase of the Great Inflation in the 1960s, revealing the inner workings of the Fed during a period of change.
Spanning the period from the institution's founding in 1913 to the restoration of its independence in 1951, this title chronicles the evolution and development of the Federal Reserve from the Federal Reserve Accord in 1951 to the first phase of the Great Inflation in the 1960s, revealing the inner workings of the Fed during a period of change.
Allan H. Meltzer's monumental history of the Federal Reserve System tells the story of one of America's most influential but least understood public institutions. This first volume covers the period from the Federal Reserve's founding in 1913 through the Treasury-Federal Reserve Accord of 1951, which marked the beginning of a larger and greatly changed institution.To understand why the Federal Reserve acted as it did at key points in its history, Meltzer draws on meeting minutes, correspondence, and other internal documents (many never before made public) to trace the reasoning behind its policy decisions. He explains, for instance, why the Federal Reserve remained passive throughout most of the economic decline that led to the Great Depression, and how the Board's actions helped to produce the deep recession of 1937 and 1938. He also highlights the impact of ideas, particularly the ideas of Winfield Riefler and Randolph Burgess, that dominated policy decisions and led the Federal Reserve to make tragic errors. Meltzer also examines the influence the Federal Reserve has had on international affairs, from attempts to build a new international financial system in the 1920s to the Bretton Woods Agreement of 1944 that established the International Monetary Fund and the World Bank, and the failure of the London Economic Conference of 1933.Written by one of the world's leading economists, this magisterial biography of the Federal Reserve and the people who helped shape it will interest economists, central bankers, historians, political scientists, policymakers, and anyone seeking a deep understanding of the institution that controls America's purse strings.