Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Money --- Monetary policy --- Federal Reserve banks --- Banks and banking --- Banks of issue --- History --- E-books --- Federal Reserve Banks --- History.

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

An examination of how the policy preferences of individual members of the Federal Open Market Committee are translated into monetary policy decisions.In many countries, monetary policy decisions are made by committees. In the United States, these decisions are made by the Federal Reserve's Federal Open Market Committee (FOMC), which consists of the seven members of the Board of Governors and the presidents of the twelve district banks. This book examines the process by which the preferences of the FOMC's individual members are translated into collective policy choices. This focus on the aggregation of individual preferences into group decisions is unique and provides an important perspective on the evolution of monetary policy choices.To study decision making by the FOMC, the authors have used both formal voting records and detailed transcripts and summaries of deliberations contained in the committee's Memoranda of Discussion and FOMC Transcripts. The latter sources have been used to construct data sets describing individual committee members' policy preferences for the 1970-1978 and 1987-1996 periods when the FOMC was chaired by Arthur Burns and Alan Greenspan, respectively. These data are used to estimate monetary policy reaction functions for individual Committee members and to explore the role of majoritarian pressures, pressures for consensus, and the power of the chairman in collective decision making. The rich anecdotal evidence found in the Memoranda of Discussion and FOMC Transcripts inspires the narrative approach taken in two chapters, on the influence of political pressure on FOMC deliberations and on the relevance of the time inconsistency problem for the rise of inflation in the 1970s.

Monetary policy --- Federal Reserve banks. --- Federal Reserve banks --- Banking --- Finance --- Business & Economics --- United States. --- Federal Open Market Committee (U.S.) --- Board of Governors of the Federal Reserve System (U.S.). --- FOMC --- Banks of issue --- ECONOMICS/Finance --- ECONOMICS/Macroeconomics

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The importance of international considerations in the US Federal Reserve System's deliberations has become more and more important over time as global financial crises and events create ever stronger repercussions in the US economy. This book critically evaluates the role of the Federal Reserve System as a player in the international monetary system over the past one hundred years, starting with its initial responsibility under the gold standard and looking ahead to the challenges it will face in the twenty-first century under the fiat standard. The book is based on a conference of the same name held at the Federal Reserve Bank of Dallas in September 2014, as part of the Federal Reserve System's centennial, and contributors include many of the most highly regarded financial historians and policymakers.

Federal Reserve banks --- Monetary policy --- Financial crises --- United States --- Economic policy --- 331.162.21 --- Geschiedenis van de centrale banken --- Monetary policy - United States --- Financial crises - United States --- United States - Economic policy - 2009 --- -331.162.21 --- -Federal Reserve banks --- Federal Reserve banks.

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

In 2012, Ben Bernanke, chairman of the U.S. Federal Reserve, gave a series of lectures about the Federal Reserve and the 2008 financial crisis, as part of a course at George Washington University on the role of the Federal Reserve in the economy. In this unusual event, Bernanke revealed important background and insights into the central bank's crucial actions during the worst financial crisis since the Great Depression. Taken directly from these historic talks, The Federal Reserve and the Financial Crisis offers insight into the guiding principles behind the Fed's activities and the lessons to be learned from its handling of recent economic challenges. Bernanke traces the origins of the Federal Reserve, from its inception in 1914 through the Second World War, and he looks at the Fed post-1945, when it began operating independently from other governmental departments such as the Treasury. During this time the Fed grappled with episodes of high inflation, finally tamed by then-chairman Paul Volcker. Bernanke also explores the period under his predecessor, Alan Greenspan, known as the Great Moderation. Bernanke then delves into the Fed's reaction to the recent financial crisis, focusing on the central bank's role as the lender of last resort and discussing efforts that injected liquidity into the banking system. Bernanke points out that monetary policies alone cannot revive the economy, and he describes ongoing structural and regulatory problems that need to be addressed. Providing first-hand knowledge of how problems in the financial system were handled, The Federal Reserve and the Financial Crisis will long be studied by those interested in this critical moment in history.

Federal Reserve banks. --- Financial crises - United States. --- Global Financial Crisis, 2008-2009. --- Monetary policy - United States. --- United States. --- United States - Economic policy - 2009-. --- Federal Reserve banks --- Global Financial Crisis, 2008-2009 --- Financial crises --- Monetary policy --- Finance --- Business & Economics --- Banking --- United States --- Economic policy --- Global Economic Crisis, 2008-2009 --- Subprime Mortgage Crisis, 2008-2009 --- FRS --- Federal Reserve Board at Washington --- Federal Reserve Board (U.S.) --- Banks of issue --- Board of Governors of the Federal Reserve System (U.S.) --- E-books --- BUSINESS & ECONOMICS / Economic Conditions --- BUSINESS & ECONOMICS / Economic History --- BUSINESS & ECONOMICS / Economics / Comparative --- POLITICAL SCIENCE / Economic Conditions --- Financial crises - United States --- Monetary policy - United States --- United States - Economic policy - 2009 --- -Federal Reserve banks. --- -Federal Reserve banks

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Finance --- Banks and banking --- Federal Reserve banks. --- Banks of issue --- Agricultural banks --- Banking --- Banking industry --- Commercial banks --- Depository institutions --- Financial institutions --- Money --- Funding --- Funds --- Economics --- Currency question --- History --- Board of Governors of the Federal Reserve System (U.S.) --- Sovet upravli︠a︡i︠u︡shchikh FRS --- Federal Reserve System (U.S.) --- F.R.S. --- FRS --- United States. --- Federal Reserve (U.S.) --- Federalʹnai︠a︡ rezervnai︠a︡ sistema (U.S.) --- Federal Reserve Board (U.S.) --- Federal Reserve banks --- E-books