Lessons from the Early History of the Federal Reserve.

From: Atlantic Economic Journal | Date: September 1, 2000| Author: | Copyright information

ALLAN H. MELTZER [*]

We meet in Germany a little more than one year after the start of a new monetary institution, modeled in part as a federal system like the Federal Reserve with policy operations like those of the Bundesbank. For the past five years, one of my main occupations has been the early history of the Federal Reserve. I have looked in detail at its voluminous records of its formative years. My talk today is a brief summary of some things I have learned. (JEL E5, N2)

Introduction

All of us know the Federal Reserve as one of the most prestigious ...

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