The Monetary Policy of the Federal Reserve: A History

摘要

There is probably no better time than now to reflect on the history of the Federal Reserve and monetary policy. Indeed, the current financial crisis is in many waysrnrewriting monetary policy, and Hetzel's book is a timely reminder of the need to understand the evolution of the Federal Reserve. The crisis has raised a number of important questions regarding the proper role of the Fed, its ultimate function as a stabilizer of banking and financial markets, and its "unconventional" practices.