The Power and Independence of the Federal Reserve
| Author | : | |
| Rating | : | 4.54 (530 Votes) |
| Asin | : | 0691178380 |
| Format Type | : | paperback |
| Number of Pages | : | 368 Pages |
| Publish Date | : | 2015-09-09 |
| Language | : | English |
DESCRIPTION:
The most informative and readable explanation of the Federal Reserve you will ever find. Mehrsa This is a must-read for anyone who wants to understand the federal reserve. Conti-Brown expertly dispels false myth and lore about the federal reserve and clearly explains the origins and the functions of federal reserve independence. There is so much misunderstanding about how the fed functions--even many so-called fed experts misstate the structure of the federal reserve. This is because the federal reserve is unique among all government institutions and in order to understand it, you must know its origins, founding mission, and historic development.. "Interesting overview of the incomplete legal structure of the Fed, content of the criticism is partially convincing" according to A. Menon. The Power and Independence of the Federal Reserve is a very topical book in the aftermath of the financial crisis as the mandate of the institution has shifted quite dramatically. This is quite a different book than most on the Fed as it focuses on the legal structure of the Fed and how it lies in a vague land of accountability and how this is questionable at the least and unconstitutional in many interpretations of the law. The message of the book is that the technocratic nature of the Fed is overstated and behind the economics lies potential ideology. N. Colas said Readable, well researched and useful guide to the Fed. A very worthwhile read that fills in much of the white space left by histories of the Fed as well as day to day news coverage of the institution. Well researched and very readable. The cornerstone idea - analyzing how "Independent" the Federal Reserve has been and is today, and how it got that way - is a clever hook on which to hang the story. No matter how you may feel about the Federal Reserve, this book will add to your understanding of the institution.
One of Financial Times (FT) Best Books of 2016"Conti-Brown, as a legal scholar, really gets the tangled web that is the Fed. And, as a writer, he does a masterful job of taking the typical reader into this web. I highly recommend this book for readers interested in the Federal Reserve System."--Scott Sumner, Econlog"Peter Conti-Brown's The Power and Independence of the Federal Reserve (Princeton) is a study of what might be called the Fed's unwritten constitution. And whether or not we agree with Peter's conclusion, his book will serve to define the terms of the debate."--Daniel Hemel, Yale Journal of Regulation blog"While the topic is complex, layered, and laby
He examines the foundations of the Federal Reserve Act of 1913, which established a system of central banks, and the ways that subsequent generations have redefined the organization. The independence of the Federal Reserve is considered a cornerstone of its identity, crucial for keeping monetary policy decisions free of electoral politics. Legal scholar and financial historian Peter Conti-Brown provides an in-depth look at the Fed's place in government, its internal governance structure, and its relationships to such individuals and groups as the president, Congress, economists, and bankers.Exploring how the Fed regulates the global economy and handles its own internal politics, and how the law doesand does notdefine the Fed's power, Conti-Brown captures and clarifies the central bank
He is the coeditor of When States Go Broke and Research Handbook on Central Banking. . Peter Conti-Brown is assistant professor of legal studies and business ethics at the Wharton School of the University of Pennsylvania