The Evolution of Monetary Policy and Banking in the US

摘要

There have been several books reviewing the evolution of monetary policy in the past few years. This book also provides a description of monetary policy in the post-World War Ⅱ era, but adds to it a review of the evolution of the banking sector. As Hester notes, these two areas exert a fair bit of influence on each other. For instance, the tightening of monetary policy from 1960 through 1980, especially in the presence of ceilings on nominal interest rates, spurred a number of financial market innovations to circumvent different regulations.