The Origins of the Modern Era of the Federal Reserve
Fifty years ago the actions of the Federal Reserve mattered. Today, so far as the aggregate measures of the American domestic economy go, they do not. Books discussed in this essay: Sarah Binder and Mark Spindel, The Myth of Independence: How Congress Governs the Federal Reserve. Princeton: Princeton University Press, 2017. Jeanna Smialek, Limitless: The Federal Reserve Takes on a…
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