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010 a| 2022006676;

020 a| 9780226821658q| (cloth ;q| alk. paper);

020 z| 9780226821665q| (ebook);

035 a| (WaSeSS)ssj0002763094;

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050 00 a| HG2563b| .H48 2022;

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100 1 a| Hetzel, Robert L.=| ^A770561;

245 14 a| The Federal Reserveh| [electronic resource] :b| a new history /c| Robert L. Hetzel.;

260 a| Chicago :b| The University of Chicago Press,c| 2022.;

300 a| xviii, 688 pages :b| illustrations ;c| 24 cm;

504 a| Includes bibliographical references (pages 641-669) and index.;

505 0 a| In search of the monetary standard -- The organization of the book -- What causes the monetary disorder that produces real disorder? -- The creation of the Fed -- Why the Fed failed in the Depression: the 1920s antecedents -- A fiat money standard: free reserves operating procedures and gold -- A narrative account of the 1920s -- Attacking speculative mania -- The Great Contraction: 1929-33 -- The Roosevelt era -- The guiding role of governor Harrison and the NY Fed -- Contemporary critics in the Depression -- From World War II to the 1953 Recession -- LAW (Lean-against-the-Wind) and long and variable lags -- The early Martin Fed -- From price stability to inflation -- The Burns Fed -- Stop-go and the collapse of a stable nominal anchor -- The Volcker Fed and the birth of a new monetary standard -- The Greenspan FOMC -- The Great Recession -- The 2008 financial crisis -- The Eurozone crisis -- Recovery from the Great Recession -- Covid-19 and the Fed's credit policy -- Covid-19 and the Fed's monetary policy: flexible-average-inflation targeting -- How can the Fed control inflation? -- Making the monetary standard explicit -- What is the optimal monetary standard? -- Why is learning so hard?;

506 a| Available only to authorized users.;

520 a| "A new and critical history of one of America's most important institutions In The Federal Reserve System: A New History, Robert Hetzel draws on a 43-year career as an economist in the central bank to trace the influence of the Fed on the American economy. Hetzel compares period in which the Fed stabilized the economy and period in which it destabilized the the economy. He draws lessons about what monetary rule is stabilizing. Recast through this lens and enriched with archival materials, Hetzel's sweeping history offers new understanding of the bank's watershed moments since 1913. They include critical accounts of the Great Depression, the Great Inflation, and the Great Recession, all of which were avoidable. The Federal Reserve System: A New History arrives as a critical history for a critical moment. It promises to recast our understanding of the central bank in its second century"--c| Provided by publisher.;

538 a| Mode of access: World Wide Web;

610 10 a| United States.b| Federal Reserve Boardx| History.=| ^A230665;

610 20 a| Board of Governors of the Federal Reserve System (U.S.)x| History.=| ^A37333;

651 0 a| United Statesx| Economic policyy| 20th century.=| ^A97357;

655 0 a| Electronic books.=| ^A491897;

856 40 z| Full text available from eBooks on EBSCOhostu| https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=3300747&scope=site&custid=s5822723&authtype=ip,shib;

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The Federal Reserve a new history / Robert L. Hetzel.

Author/creator	Hetzel, Robert L.
Format	Electronic
Publication Info	Chicago : The University of Chicago Press, 2022.
Description	xviii, 688 pages : illustrations ; 24 cm
Supplemental Content	Full text available from eBooks on EBSCOhost
Subjects	United States. Federal Reserve Board--History. Board of Governors of the Federal Reserve System (U.S.)--History. Monetary policy--United States. --History. --20th century. United States--Economic policy. --20th century.

Contents	In search of the monetary standard -- The organization of the book -- What causes the monetary disorder that produces real disorder? -- The creation of the Fed -- Why the Fed failed in the Depression: the 1920s antecedents -- A fiat money standard: free reserves operating procedures and gold -- A narrative account of the 1920s -- Attacking speculative mania -- The Great Contraction: 1929-33 -- The Roosevelt era -- The guiding role of governor Harrison and the NY Fed -- Contemporary critics in the Depression -- From World War II to the 1953 Recession -- LAW (Lean-against-the-Wind) and long and variable lags -- The early Martin Fed -- From price stability to inflation -- The Burns Fed -- Stop-go and the collapse of a stable nominal anchor -- The Volcker Fed and the birth of a new monetary standard -- The Greenspan FOMC -- The Great Recession -- The 2008 financial crisis -- The Eurozone crisis -- Recovery from the Great Recession -- Covid-19 and the Fed's credit policy -- Covid-19 and the Fed's monetary policy: flexible-average-inflation targeting -- How can the Fed control inflation? -- Making the monetary standard explicit -- What is the optimal monetary standard? -- Why is learning so hard?
Abstract	"A new and critical history of one of America's most important institutions In The Federal Reserve System: A New History, Robert Hetzel draws on a 43-year career as an economist in the central bank to trace the influence of the Fed on the American economy. Hetzel compares period in which the Fed stabilized the economy and period in which it destabilized the the economy. He draws lessons about what monetary rule is stabilizing. Recast through this lens and enriched with archival materials, Hetzel's sweeping history offers new understanding of the bank's watershed moments since 1913. They include critical accounts of the Great Depression, the Great Inflation, and the Great Recession, all of which were avoidable. The Federal Reserve System: A New History arrives as a critical history for a critical moment. It promises to recast our understanding of the central bank in its second century"-- Provided by publisher.
Bibliography note	Includes bibliographical references (pages 641-669) and index.
Access restriction	Available only to authorized users.
Technical details	Mode of access: World Wide Web
Genre/form	Electronic books.
LCCN	2022006676
ISBN	9780226821658 (cloth ; alk. paper)
ISBN	(ebook)

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