The Fed At A Crossroads
|09/28/2016||Posted by BusinessMediaguide.Com under General World News||
I’ve long been worried about the future of the Federal Reserve Board, particularly as the pre-eminent monetary policy authority on the globe. That eminence was hard-won. The infant Fed stumbled badly in the Great Depression and was essentially a branch of the Treasury Department into the 1950s. With the so-called Treasury accords in 1951, it became, nominally, an independent agency that, unfortunately, continued to do political bidding – particularly under the tenure of Arthur Burns.
However, with the arrival of Paul Volcker as Chairman and the declaration by President Reagan that the Fed was off-limits, the Fed grew into a genuinely read more >>>