Notice bibliographique
- Notice
Type(s) de contenu et mode(s) de consultation : Texte noté : électronique
Auteur(s) : Conti-Brown, Peter (1981-....)
Titre(s) : The power and independence of the Federal Reserve [Texte électronique] / Peter Conti-Brown
Publication : Princeton : Princeton University Press, [2016]
Description matérielle : 1 online resource (xiv, 347 pages)
Note(s) : "The independence of the Federal Reserve is considered a cornerstone of its identity,
crucial for keeping monetary policy decisions free of electoral politics. But do we
really understand what is meant by "Federal Reserve independence"? Using scores of
examples from the Fed's rich history, The Power and Independence of the Federal Reserve
shows that much common wisdom about the nation's central bank is inaccurate. 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 does--and does not--define the Fed's power, Conti-Brown captures and
clarifies the central bank's defining complexities. 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. Challenging
the notion that the Fed Chair controls the organization as an all-powerful technocrat,
he explains how institutions and individuals--within and outside of government--shape
Fed policy. Conti-Brown demonstrates that the evolving mission of the Fed--including
systemic risk regulation, wider bank supervision, and as a guardian against inflation
and deflation--requires a reevaluation of the very way the nation's central bank is
structured. Investigating how the Fed influences and is influenced by ideologies,
personalities, law, and history, The Power and Independence of the Federal Reserve
offers a clear picture of this uniquely important institution"--
Sujet(s) : Banques de la Réserve fédérale
Politique monétaire -- États-Unis
Politique économique
Identifiants, prix et caractéristiques : ISBN 9781400873500
Identifiant de la notice : ark:/12148/cb45094071h
Notice n° :
FRBNF45094071
(notice reprise d'un réservoir extérieur)
Table des matières : Introduction: Ulysses and the chaperone -- Part 1. The Federal Reserve Is a "They,"
Not an "It." The three foundings of the Federal Reserve ; Leadership and institutional
change: From periphery to power ; Central banking by committee: The authority of the
Fed's Board of Governors ; The "double government" of the Federal Reserve: The economists
and the lawyers ; The vestigial and unconstitutional Federal Reserve Banks -- Part
2. The Five Hundred Hats of the Federal Reserve. Practicing monetary policy: The rise
and fall of the chaperone ; The once and future Federal Reserve: The Fed's banking
functions -- Part 3. The Sirens of the Federal Reserve. The president and the Federal
Reserve: The limits of law and the power of relationships ; Congress and the Fed:
The curious case of the Fed's budgetary autonomy ; Club Fed: The communities of the
Federal Reserve -- Part 4. The Democratic Demands of Fed Governance: Reforming the
Fed by Choosing the Chaperone. Proposals -- Conclusion: The Freemasons and the Federal
Reserve.
