Monetary Policy in the United States: An Intellectual and Institutional History
- ISBN-10
- 0226803848
- ISBN-13
- 9780226803845
- Category
- Business & Economics
- Pages
- 502
- Language
- English
- Published
- 1993-11-03
- Publisher
- University of Chicago Press
- Author
- Richard H. Timberlake
Description
In this extensive history of U.S. monetary policy, Richard H. Timberlake chronicles the intellectual, political, and economic developments that prompted the use of central banking institutions to regulate the monetary systems. After describing the constitutional principles that the Founding Fathers laid down to prevent state and federal governments from printing money. Timberlake shows how the First and Second Banks of the United States gradually assumed the central banking powers that were originally denied them. Drawing on congressional debates, government documents, and other primary sources, he analyses the origins and constitutionality of the greenbacks and examines the evolution of clearinghouse associations as private lenders of last resort. He completes this history with a study of the legislation that fundamentally changed the power and scope of the Federal Reserve System—the Banking Act of 1935 and the Monetary Control Act of 1980. Writing in nontechnical language, Timberlake demystifies two centuries of monetary policy. He concludes that central banking has been largely a series of politically inspired government-serving actions that have burdened the private economy.
Get the book
Other editions
Similar books
-
The Federal Reserve System Purposes and Functions
By Board of Governors of the Federal Reserve SystemProvides 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 ...
-
Appointing Central Bankers: The Politics of Monetary Policy in the United States and the European Monetary Union
By Kelly H. ChangThis book examines monetary policy by focusing on how the President and the Senate influence monetary policy by appointing Federal Reserve members.
-
The Monetary Policy of the Federal Reserve: A History
By Robert L. HetzelThe book places that evolution in the context of the intellectual and political environment of the time.
-
Monetary Policy and the Great Inflation in the United States: The Federal Reserve and the Failure of Macroeconomic Policy, 1965-79
By Thomas MayerThis unique book deals with the most serious macroeconomic failure experienced in the US in the post-war period and the great inflation of the late 1960s and 1970s. It is...
-
21st Century Monetary Policy: The Federal Reserve from the Great Inflation to COVID-19
By Ben S. BernankeBeyond explaining the central bank’s new policymaking tools, Bernanke also captures the drama of moments when so much hung on the Fed’s decisions, as well as the personalities and philosophies of those who led the institution.
-
Instruments of Monetary Policy in the United States: The Role of the Federal Reserve System
By International Monetary Fund, Ralph Aubrey YoungInstruments of Monetary Policy in the United States: The Role of the Federal Reserve System
-
The Regional Impact of Monetary Policy in the United States
By Randall J. MillerThe Regional Impact of Monetary Policy in the United States
-
International Dimensions of Monetary Policy
By Jordi Galí, Mark GertlerIn this comprehensive book, the authors examine the real and potential effects of increased openness and exposure to international economic dynamics from a variety of perspectives.
-
Deliberating American Monetary Policy: A Textual Analysis
By Cheryl Schonhardt-BaileyIn this book, Cheryl Schonhardt-Bailey provides a systematic examination of deliberation on monetary policy from 1976 to 2008 by the Federal Reserve's Open Market Committee (FOMC) and House and Senate banking committees.