Who Needs the Fed

Who Needs the Fed
Author: John Tamny
Release: 2016-05-24
Editor: Encounter Books
Pages: 224
ISBN: 9781594038327
Language: en
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DESCRIPTION BOOK:

The Federal Reserve is one of the most disliked entities in the United States at present, right alongside the IRS. Americans despise the Fed, but they’re also generally a bit confused as to why they distrust our central bank. Their animus is reasonable, though, because the Fed’s most famous function—targeting the Fed funds rate—is totally backwards. John Tamny explains this backwardness in terms of a Taylor Swift concert followed by a ride home with Uber. In modern times, he points out, the notion of credit has been perverted, so that most people believe it’s money and that the supply of it can therefore be increased. This false notion has aggrandized the Fed with power that it can’t possibly use wisely. The contrast between the grinding poverty of Baltimore and the abundance of Silicon Valley helps illustrate the problem, along with stories about Donald Trump, Robert Downey Jr., Jim Harbaugh (the Michigan football coach), and robots. Who Needs the Fed? makes a sober case against the Federal Reserve by explaining what credit really is, and why the Fed’s existence is inimical to its creation. Readers will come away entertained, much more knowledgeable, and prepared to argue that the Fed is merely superfluous on its best days but perilous on its worst.

The Federal Reserve

The Federal Reserve
Author: S. H. Axilrod
Release: 2013-06-06
Editor: Oxford University Press on Demand
Pages: 141
ISBN: 9780199934485
Language: en
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DESCRIPTION BOOK:

Discusses the legal basis for the Federal Reserve and the powers the institution can carry out, highlights key events in U.S. postwar financial history, and explains how monetary policy is tied to the political and social scenes.

End the Fed

End the Fed
Author: Ron Paul
Release: 2009-09-16
Editor: Grand Central Publishing
Pages: 224
ISBN: 9780446568180
Language: en
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DESCRIPTION BOOK:

A provocative and controversial treatise that argues we cannot actually fix the broken economy without discussing the 800-lb gorilla in the room: the Federal Reserve. Most people think of the Fed as an indispensable institution without which the country's economy could not properly function. But in End the Fed, Ron Paul draws on American history, economics, and fascinating stories from his own long political life to argue that the Fed is both corrupt and unconstitutional. It is inflating currency today at nearly a Weimar or Zimbabwe level, a practice that threatens to put us into an inflationary depression where $100 bills are worthless. What most people don't realize is that the Fed -- created by the Morgans and Rockefellers at a private club off the coast of Georgia -- is actually working against their own personal interests. Congressman Paul's urgent appeal to all citizens and officials tells us where we went wrong and what we need to do fix America's economic policy for future generations.

The Federal Reserve System Purposes and Functions

The Federal Reserve System Purposes and Functions
Author: Bd of Governors of the Federal Reserve
Release: 2002
Editor: Unknown
Pages: 168
ISBN: 0894991965
Language: en
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DESCRIPTION BOOK:

Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.

Alexander Hamilton and the Origins of the Fed

Alexander Hamilton and the Origins of the Fed
Author: Jack Rasmus
Release: 2019-02-28
Editor: Rowman & Littlefield
Pages: 146
ISBN: 9781498582858
Language: en
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DESCRIPTION BOOK:

In 1913the United States was one of the last major economies to establish a central bank. This book examines the history and evolution of central banking in the United States from the perspective of central banking functions such as aggregator of private lending to the federal government and the fiscal agent for the government.

Central Banking 101

Central Banking 101
Author: Joseph Wang
Release: 2020-01-18
Editor: Joseph Wang
Pages: 329
ISBN: 9780999136751
Language: en
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DESCRIPTION BOOK:

Central banking is magic. With a few words, the Fed can lift the stock market out of desperation and catapult it towards euphoric highs. With a few keystrokes, the Fed can conjure up trillions of dollars and fund virtually unlimited Federal spending. And with a few poor decisions, the Fed can plunge the entire world into a recession. The Federal Reserve is one of the most powerful institutions in the world, and also one of the most difficult to understand. The Fed acts through its Open Markets Desk, which sits at the heart of the global financial system as the world’s ultimate and limitless provider of dollars. On behalf of policy makers, the Desk gathers market intelligence from all the major market participants, sifts through reams of internal data, and works behind the scenes keep the financial system intact. It is responsible for all of the Fed's market operations, from trillions in quantitative easing to hundreds of billions in repo and FX-swap loans. The financial crises of 2008 and 2020 abated only through the emergency interventions of the Desk. Joseph Wang spent five years studying the monetary system as a trader on the Desk. From that vantage point, Joseph saw firsthand how the Fed operates and how the financial system really works. This book is a distillation of his experience that aims to educate and demystify. After reading this book, you will understand how money is created, how the global dollar system is structured, and how it all fits into the broader financial system. The views in this book do not necessarily reflect those of the Federal Reserve Bank of New York or the Federal Reserve System.

The Myth of Independence

The Myth of Independence
Author: Sarah Binder,Mark Spindel
Release: 2019-07-09
Editor: Princeton University Press
Pages: 304
ISBN: 9780691191591
Language: en
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DESCRIPTION BOOK:

An in-depth look at how politics and economics shape the relationship between Congress and the Federal Reserve Born out of crisis a century ago, the Federal Reserve has become the most powerful macroeconomic policymaker and financial regulator in the world. The Myth of Independence marshals archival sources, interviews, and statistical analyses to trace the Fed’s transformation from a weak, secretive, and decentralized institution in 1913 to a remarkably transparent central bank a century later. Offering a unique account of Congress’s role in steering this evolution, Sarah Binder and Mark Spindel explore the Fed’s past, present, and future and challenge the myth of its independence.

The Road Ahead for the Fed

The Road Ahead for the Fed
Author: John D. Ciorciari,John B. Taylor
Release: 2013-09-01
Editor: Hoover Press
Pages: 230
ISBN: 9780817950033
Language: en
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DESCRIPTION BOOK:

Expert contributors examine the recent actions of the Federal Reserve and suggest directions for the Fed going forward by drawing on past political, historical, and market principles. They explain how the Fed arrived at its current position, offer ideas on how to exit the situation, and propose new market-based reforms that can help keep the Fed on the road to good monetary policy in the future.

The Creature from Jekyll Island

The Creature from Jekyll Island
Author: G. Edward Griffin
Release: 1995
Editor: American Media (CA)
Pages: 608
ISBN: IND:30000048006427
Language: en
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The Power and Independence of the Federal Reserve

The Power and Independence of the Federal Reserve
Author: Peter Conti-Brown
Release: 2017-10-10
Editor: Princeton University Press
Pages: 360
ISBN: 9780691178387
Language: en
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DESCRIPTION BOOK:

The independence of the Federal Reserve is considered a cornerstone of its identity, crucial for keeping monetary policy decisions free of electoral politics. But do we really understand what is meant by "Federal Reserve independence"? Using scores of examples from the Fed's rich history, The Power and Independence of the Federal Reserve shows that much common wisdom about the nation's central bank is inaccurate. Legal scholar and financial historian Peter Conti-Brown provides an in-depth look at the Fed's place in government, its internal governance structure, and its relationships to such individuals and groups as the president, Congress, economists, and bankers. Exploring how the Fed regulates the global economy and handles its own internal politics, and how the law does—and does not—define the Fed's power, Conti-Brown captures and clarifies the central bank's defining complexities. He examines the foundations of the Federal Reserve Act of 1913, which established a system of central banks, and the ways that subsequent generations have redefined the organization. Challenging the notion that the Fed Chair controls the organization as an all-powerful technocrat, he explains how institutions and individuals—within and outside of government—shape Fed policy. Conti-Brown demonstrates that the evolving mission of the Fed—including systemic risk regulation, wider bank supervision, and as a guardian against inflation and deflation—requires a reevaluation of the very way the nation's central bank is structured. Investigating how the Fed influences and is influenced by ideologies, personalities, law, and history, The Power and Independence of the Federal Reserve offers a uniquely clear and timely picture of one of the most important institutions in the United States and the world.

Fed Up

Fed Up
Author: Danielle DiMartino Booth
Release: 2017-02-14
Editor: Penguin
Pages: 288
ISBN: 9780735211667
Language: en
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DESCRIPTION BOOK:

A Federal Reserve insider pulls back the curtain on the secretive institution that controls America’s economy After correctly predicting the housing crash of 2008 and quitting her high-ranking Wall Street job, Danielle DiMartino Booth was surprised to find herself recruited as an analyst at the Federal Reserve Bank of Dallas, one of the regional centers of our complicated and widely misunderstood Federal Reserve System. She was shocked to discover just how much tunnel vision, arrogance, liberal dogma, and abuse of power drove the core policies of the Fed. DiMartino Booth found a cabal of unelected academics who made decisions without the slightest understanding of the real world, just a slavish devo­tion to their theoretical models. Over the next nine years, she and her boss, Richard Fisher, tried to speak up about the dangers of Fed policies such as quanti­tative easing and deeply depressed interest rates. But as she puts it, “In a world rendered unsafe by banks that were too big to fail, we came to understand that the Fed was simply too big to fight.” Now DiMartino Booth explains what really happened to our economy after the fateful date of December 8, 2008, when the Federal Open Market Committee approved a grand and unprecedented ex­periment: lowering interest rates to zero and flooding America with easy money. As she feared, millions of individuals, small businesses, and major corporations made rational choices that didn’t line up with the Fed’s “wealth effect” models. The result: eight years and counting of a sluggish “recovery” that barely feels like a recovery at all. While easy money has kept Wall Street and the wealthy afloat and thriving, Main Street isn’t doing so well. Nearly half of men eighteen to thirty-four live with their parents, the highest level since the end of the Great Depression. Incomes are barely increasing for anyone not in the top ten percent of earners. And for those approaching or already in retirement, extremely low interest rates have caused their savings to stagnate. Millions have been left vulnerable and afraid. Perhaps worst of all, when the next financial crisis arrives, the Fed will have no tools left for managing the panic that ensues. And then what? DiMartino Booth pulls no punches in this exposé of the officials who run the Fed and the toxic culture they created. She blends her firsthand experiences with what she’s learned from dozens of high-powered market players, reams of financial data, and Fed docu­ments such as transcripts of FOMC meetings. Whether you’ve been suspicious of the Fed for decades or barely know anything about it, as DiMartino Booth writes, “Every American must understand this extraordinarily powerful institution and how it affects his or her everyday life, and fight back.”

Set Money Free What Every American Needs To Know About The Federal Reserve

Set Money Free  What Every American Needs To Know About The Federal Reserve
Author: Chris Rossini,Ron Paul
Release: 2014-07-03
Editor: Lulu.com
Pages: 247
ISBN: 9781312282612
Language: en
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DESCRIPTION BOOK:

An important work that explains the economic, philosophical, and historical case against the Fed.

America s Bank

America s Bank
Author: Roger Lowenstein
Release: 2015-10-20
Editor: Penguin
Pages: 368
ISBN: 9781101614129
Language: en
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DESCRIPTION BOOK:

A tour de force of historical reportage, America’s Bank illuminates the tumultuous era and remarkable personalities that spurred the unlikely birth of America’s modern central bank, the Federal Reserve. Today, the Fed is the bedrock of the financial landscape, yet the fight to create it was so protracted and divisive that it seems a small miracle that it was ever established. For nearly a century, America, alone among developed nations, refused to consider any central or organizing agency in its financial system. Americans’ mistrust of big government and of big banks—a legacy of the country’s Jeffersonian, small-government traditions—was so widespread that modernizing reform was deemed impossible. Each bank was left to stand on its own, with no central reserve or lender of last resort. The real-world consequences of this chaotic and provincial system were frequent financial panics, bank runs, money shortages, and depressions. By the first decade of the twentieth century, it had become plain that the outmoded banking system was ill equipped to finance America’s burgeoning industry. But political will for reform was lacking. It took an economic meltdown, a high-level tour of Europe, and—improbably—a conspiratorial effort by vilified captains of Wall Street to overcome popular resistance. Finally, in 1913, Congress conceived a federalist and quintessentially American solution to the conflict that had divided bankers, farmers, populists, and ordinary Americans, and enacted the landmark Federal Reserve Act. Roger Lowenstein—acclaimed financial journalist and bestselling author of When Genius Failed and The End of Wall Street—tells the drama-laden story of how America created the Federal Reserve, thereby taking its first steps onto the world stage as a global financial power. America’s Bank showcases Lowenstein at his very finest: illuminating complex financial and political issues with striking clarity, infusing the debates of our past with all the gripping immediacy of today, and painting unforgettable portraits of Gilded Age bankers, presidents, and politicians. Lowenstein focuses on the four men at the heart of the struggle to create the Federal Reserve. These were Paul Warburg, a refined, German-born financier, recently relocated to New York, who was horrified by the primitive condition of America’s finances; Rhode Island’s Nelson W. Aldrich, the reigning power broker in the U.S. Senate and an archetypal Gilded Age legislator; Carter Glass, the ambitious, if then little-known, Virginia congressman who chaired the House Banking Committee at a crucial moment of political transition; and President Woodrow Wilson, the academician-turned-progressive-politician who forced Glass to reconcile his deep-seated differences with bankers and accept the principle (anathema to southern Democrats) of federal control. Weaving together a raucous era in American politics with a storied financial crisis and intrigue at the highest levels of Washington and Wall Street, Lowenstein brings the beginnings of one of the country’s most crucial institutions to vivid and unforgettable life. Readers of this gripping historical narrative will wonder whether they’re reading about one hundred years ago or the still-seething conflicts that mark our discussions of banking and politics today.

Stewards of the Market

Stewards of the Market
Author: Mitchel Y. Abolafia
Release: 2020
Editor: Unknown
Pages: 224
ISBN: 9780674980785
Language: en
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DESCRIPTION BOOK:

"Mitchel Abolafia goes behind the scenes with the Federal Reserve's powerful Open Market Committee as it responded to the 2008-2009 financial crisis. Relying on verbatim transcripts of closed meetings, Abolafia shows how assumptions about self-correcting markets stymied the Fed and how its leaders came to embrace new ideas"--

The Fed and Lehman Brothers

The Fed and Lehman Brothers
Author: Laurence M. Ball
Release: 2018-06-07
Editor: Cambridge University Press
Pages: 278
ISBN: 9781108420969
Language: en
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DESCRIPTION BOOK:

This book sets the record straight on why the Federal Reserve failed to rescue Lehman Brothers during the financial crisis.

The Fed at One Hundred

The Fed at One Hundred
Author: David Howden,Joseph T. Salerno
Release: 2014-07-21
Editor: Springer
Pages: 169
ISBN: 9783319062150
Language: en
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DESCRIPTION BOOK:

One hundred years after its foundation, the Federal Reserve has been entrusted with an enormous expansion in its operating powers for the sake of reviving a sluggish economy during the financial crisis. The aim of the present volume is to present a thorough and fundamental analysis of the Fed in the recent past, as well as over the entire course of its history. In evaluating the origin, structure and performance of the Fed, the contributors to this volume critically apply the principles of Austrian monetary and business-cycle theory. It is argued that the Fed has done harm to the U.S. and increasingly, the global economy by committing two types of errors: theoretical errors stemming from an incorrect understanding of the optimal monetary system, and historical errors, found in episodes in which the Fed instigated an economic downturn or hindered a budding recovery. The book contains not only a critical analysis of the activities of the Fed over its history, but also a road map with directions for the future.

Follow the Fed to Investment Success

Follow the Fed to Investment Success
Author: Douglas S. Roberts
Release: 2008-07-25
Editor: John Wiley & Sons
Pages: 224
ISBN: 0470288329
Language: en
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Popular Economics

Popular Economics
Author: John Tamny
Release: 2015-04-13
Editor: Simon and Schuster
Pages: 256
ISBN: 9781621573920
Language: en
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DESCRIPTION BOOK:

Forbes editor John Tamny uses entertaining stories from sports, movies, popular culture, and famous businesses to demonstrate the basic principles of economics. The Rolling Stones, the Dallas Cowboys, and Paris Hilton become examples of good and bad tax policy. The Godfather, Gone With the Wind, and The Sopranos reveal the downside of antitrust regulation, while the Michigan Wolverines’ 2007 loss to Appalachian State explains why regulations often fail to achieve their intended purpose. NBA star LeBron James’ exploits on the basketball court illustrate free trade and comparative advantage, while the cooking of chicken wings makes the case for a stable dollar. Popular Economics is an everyman’s guide to how money really works—a lesson politicians try (and fail) to grasp every day.

Audit the Fed

Audit the Fed
Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Domestic Monetary Policy and Technology
Release: 2012
Editor: Unknown
Pages: 78
ISBN: UCSD:31822038361804
Language: en
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The Fed

The Fed
Author: Martin Mayer
Release: 2001
Editor: Simon and Schuster
Pages: 350
ISBN: 9780684847405
Language: en
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DESCRIPTION BOOK:

A timely, inside look at America's Federal Reserve System reveals how the Fed has reinvented itself in response to changes in the new economy, explaining how it works, how it has changed, its impact on modern business and financial institutions, and more. 50,000 first printing.