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Title details for The Federal Reserve System by Donald R. Wells - Available

The Federal Reserve System

A History

by Donald R. Wells
ebook
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The Federal Reserve banking system was created in 1913 in an effort to bring coherence to nationwide banking practices and prevent crises like the financial panic of 1907. Since it began operating in 1914, the Federal Reserve has played a crucial role in determining American financial policy and practice. It is largely an entity unto itself, operating independently, rarely subject to the political machinations of Congress or the presidency. Yet few Americans know how it works, and even fewer know anything of its history. This history of the Federal Reserve begins by giving an overview of American banking practices before the Federal Reserve's formation. The events leading to the Reserve's creation, and its early trials and tribulations, are then documented. Subsequent chapters track the Federal Reserve's history: its role during times of financial and military crisis, its relationship to each presidential administration, and the Fed's evolution as its leadership has changed over the years. The history wraps up with the Alan Greenspan era, explaining major changes in the institution's operating procedures since the 1980s. An appendix lists all members of the Federal Reserve Board of Governors, from its formation until 2003.

  • Creators

  • Publisher

  • Release date

    January 27, 2017

  • Formats

    • Kindle Book

    • OverDrive Read

      • ISBN: 9780786482191

    • EPUB ebook

      • ISBN: 9780786482191
      • File size: 398 KB
    Kindle restrictions

  • Languages

    • English

  • Reviews

    • Booklist

      November 15, 2004
      Wells, an academic, traces the history of the Federal Reserve System from before its creation to the present day, explaining why it was formed and the part it plays in determining American financial policy and practices. The Fed became operational in November 1914, averting a major panic after the war broke out in Europe and the U.S. national banks were allowed to issue a special emergency currency. The author describes the Fed chairmen through the years, the presidential administrations they served, and the economic and policy issues, as well as the power struggles, they faced. He notes that its longtime conflict with the U.S. Treasury was not resolved until 1951, and it took until 1953 for the Fed to become engaged in independent monetary policy. This excellent book highlights the importance of a valued government institution, and although Wells claims he has written it for the general public, librarians should be aware that it is not elementary reading.(Reprinted with permission of Booklist, copyright 2004, American Library Association.)

Formats

  • Kindle Book
  • OverDrive Read
  • EPUB ebook
Kindle restrictions

subjects

Languages

  • English

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