The Federal Reserve has arrived at last. Exhibit A: The tremendous
number of people interested in who would be confirmed as the new Fed
Chairman last January.
For monetary geeks like me, it’s an exciting development. It gives me a chance to talk about topics I’ve been interested in for decades, but now with more than two people.
I sincerely hope to use this column to broaden the conversation surrounding the Federal Reserve. Over time, I’ll talk about the usual topics – quantitative easing, tapering, interest rates, etc. But there’s so much more to monetary policy than these narrow issues. What about the very purpose of the Fed itself?
Most students are taught that the Federal government stepped in to calm the monetary chaos in the US. Supposedly, the fact that people used many different types of money made everyday life unbearable, and the establishment of the Federal Reserve finally solved that problem.
http://www.forbes.com/sites/norbertmichel/2014/04/26/dreams-of-a-central-planner/
For monetary geeks like me, it’s an exciting development. It gives me a chance to talk about topics I’ve been interested in for decades, but now with more than two people.
I sincerely hope to use this column to broaden the conversation surrounding the Federal Reserve. Over time, I’ll talk about the usual topics – quantitative easing, tapering, interest rates, etc. But there’s so much more to monetary policy than these narrow issues. What about the very purpose of the Fed itself?
Most students are taught that the Federal government stepped in to calm the monetary chaos in the US. Supposedly, the fact that people used many different types of money made everyday life unbearable, and the establishment of the Federal Reserve finally solved that problem.
http://www.forbes.com/sites/norbertmichel/2014/04/26/dreams-of-a-central-planner/
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