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Who Needs the Fed?

Who Needs the Fed?
  • Author : John Tamny
  • Publisher :Unknown
  • Release Date :2016-05-24
  • Total pages :224
  • ISBN : 9781594038327
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Summary : The Federal Reserve is one of the most disliked entities in the United States at present, right alongside the IRS. Americans despise the Fed, but they’re also generally a bit confused as to why they distrust our central bank. Their animus is reasonable, though, because the Fed’s most famous function—targeting the Fed funds rate—is totally backwards. John Tamny explains this backwardness in terms of a Taylor Swift concert followed by a ride home with Uber. In modern times, he points out, the notion of credit has been perverted, so that most people believe it’s money and that the supply of it can therefore be increased. This false notion has aggrandized the Fed with power that it can’t possibly use wisely. The contrast between the grinding poverty of Baltimore and the abundance of Silicon Valley helps illustrate the problem, along with stories about Donald Trump, Robert Downey Jr., Jim Harbaugh (the Michigan football coach), and robots. Who Needs the Fed? makes a sober case against the Federal Reserve by explaining what credit really is, and why the Fed’s existence is inimical to its creation. Readers will come away entertained, much more knowledgeable, and prepared to argue that the Fed is merely superfluous on its best days but perilous on its worst.

The Federal Reserve

The Federal Reserve
  • Author : Stephen H. Axilrod
  • Publisher :Unknown
  • Release Date :2013-07-25
  • Total pages :256
  • ISBN : 0199934479
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Summary : The Federal Reserve: What Everyone Needs to Know is about how things work in practice for the Fed: how it makes decisions, what actions it takes, and the actual effects it has on the economy and society.

End the Fed

End the Fed
  • Author : Ron Paul
  • Publisher :Unknown
  • Release Date :2009-09-16
  • Total pages :224
  • ISBN : 9780446568180
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Summary : A provocative and controversial treatise that argues we cannot actually fix the broken economy without discussing the 800-lb gorilla in the room: the Federal Reserve. Most people think of the Fed as an indispensable institution without which the country's economy could not properly function. But in End the Fed, Ron Paul draws on American history, economics, and fascinating stories from his own long political life to argue that the Fed is both corrupt and unconstitutional. It is inflating currency today at nearly a Weimar or Zimbabwe level, a practice that threatens to put us into an inflationary depression where $100 bills are worthless. What most people don't realize is that the Fed -- created by the Morgans and Rockefellers at a private club off the coast of Georgia -- is actually working against their own personal interests. Congressman Paul's urgent appeal to all citizens and officials tells us where we went wrong and what we need to do fix America's economic policy for future generations.

Set Money Free: What Every American Needs To Know About The Federal Reserve

Set Money Free: What Every American Needs To Know About The Federal Reserve
  • Author : Chris Rossini,Ron Paul
  • Publisher :Unknown
  • Release Date :2014-07-03
  • Total pages :246
  • ISBN : 9781312282612
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Summary : An important work that explains the economic, philosophical, and historical case against the Fed.

Popular Economics

Popular Economics
  • Author : John Tamny
  • Publisher :Unknown
  • Release Date :2015-04-13
  • Total pages :256
  • ISBN : 9781621573920
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Summary : Forbes editor John Tamny uses entertaining stories from sports, movies, popular culture, and famous businesses to demonstrate the basic principles of economics. The Rolling Stones, the Dallas Cowboys, and Paris Hilton become examples of good and bad tax policy. The Godfather, Gone With the Wind, and The Sopranos reveal the downside of antitrust regulation, while the Michigan Wolverines’ 2007 loss to Appalachian State explains why regulations often fail to achieve their intended purpose. NBA star LeBron James’ exploits on the basketball court illustrate free trade and comparative advantage, while the cooking of chicken wings makes the case for a stable dollar. Popular Economics is an everyman’s guide to how money really works—a lesson politicians try (and fail) to grasp every day.

Undue Influence

Undue Influence
  • Author : Charles R. Geisst
  • Publisher :Unknown
  • Release Date :2004-11-17
  • Total pages :336
  • ISBN : 9780471701491
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Summary : A critical look at over 80 years of conflict, collusion, andcorruption between financiers and politicians Undue Influence paints a vivid portrait of the dealings between"the few", in this case members of Congress, the banking community,and the Fed, and sheds light on how radical new deregulatorymeasures could be introduced by unelected officials and thenfoisted upon Congress in the name of progress. In the process, thebackground of the new financial elite is examined-because they aremarkedly different than their predecessors of the 1920s and 1930s.Undue Influence also brings readers up to speed on other importantissues, including how the financial elite has been able toperpetuate itself, how the markets lend themselves to these specialinterest groups, and how it is possible that after 80 years offinancial regulation and regulatory bodies the same problems offinancial malfeasance and fraud still plague the markets. Charles R. Geisst (Oradell, NJ) is the author of 15 books,including Wheels of Fortune (0-471-47973-X), Deals of the Century(0-471-26397-4) and the bestsellers Wall Street: A History and 100Years of Wall Street. Geisst has taught both political science andfinance, worked in banking and finance on Wall Street and inLondon, as well as consulted. His articles have been published inthe International Herald Tribune, Neue Zurcher Zeitung, Newsday,Wall Street Journal, and Euromoney.

Fed Up

Fed Up
  • Author : Danielle DiMartino Booth
  • Publisher :Unknown
  • Release Date :2017-02-14
  • Total pages :288
  • ISBN : 9780735211667
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Summary : A Federal Reserve insider pulls back the curtain on the secretive institution that controls America’s economy After correctly predicting the housing crash of 2008 and quitting her high-ranking Wall Street job, Danielle DiMartino Booth was surprised to find herself recruited as an analyst at the Federal Reserve Bank of Dallas, one of the regional centers of our complicated and widely misunderstood Federal Reserve System. She was shocked to discover just how much tunnel vision, arrogance, liberal dogma, and abuse of power drove the core policies of the Fed. DiMartino Booth found a cabal of unelected academics who made decisions without the slightest understanding of the real world, just a slavish devo­tion to their theoretical models. Over the next nine years, she and her boss, Richard Fisher, tried to speak up about the dangers of Fed policies such as quanti­tative easing and deeply depressed interest rates. But as she puts it, “In a world rendered unsafe by banks that were too big to fail, we came to understand that the Fed was simply too big to fight.” Now DiMartino Booth explains what really happened to our economy after the fateful date of December 8, 2008, when the Federal Open Market Committee approved a grand and unprecedented ex­periment: lowering interest rates to zero and flooding America with easy money. As she feared, millions of individuals, small businesses, and major corporations made rational choices that didn’t line up with the Fed’s “wealth effect” models. The result: eight years and counting of a sluggish “recovery” that barely feels like a recovery at all. While easy money has kept Wall Street and the wealthy afloat and thriving, Main Street isn’t doing so well. Nearly half of men eighteen to thirty-four live with their parents, the highest level since the end of the Great Depression. Incomes are barely increasing for anyone not in the top ten percent of earners. And for those approaching or already in retirement, extremely low interest rates have caused their savings to stagnate. Millions have been left vulnerable and afraid. Perhaps worst of all, when the next financial crisis arrives, the Fed will have no tools left for managing the panic that ensues. And then what? DiMartino Booth pulls no punches in this exposé of the officials who run the Fed and the toxic culture they created. She blends her firsthand experiences with what she’s learned from dozens of high-powered market players, reams of financial data, and Fed docu­ments such as transcripts of FOMC meetings. Whether you’ve been suspicious of the Fed for decades or barely know anything about it, as DiMartino Booth writes, “Every American must understand this extraordinarily powerful institution and how it affects his or her everyday life, and fight back.”

The Federal Reserve System

The Federal Reserve System
  • Author : Donald R. Wells
  • Publisher :Unknown
  • Release Date :2017-01-27
  • Total pages :224
  • ISBN : 0786482192
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Summary : 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.

Secrets of the Temple

Secrets of the Temple
  • Author : William Greider
  • Publisher :Unknown
  • Release Date :1989-01-15
  • Total pages :798
  • ISBN : 9780671675561
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Summary : Reveals how the Federal Reserve under Paul Volcker engineered changes in America's economy

Audit the Fed

Audit the Fed
  • Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Domestic Monetary Policy and Technology
  • Publisher :Unknown
  • Release Date :2012
  • Total pages :78
  • ISBN : UCSD:31822038361804
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Summary :

The Fed and Lehman Brothers

The Fed and Lehman Brothers
  • Author : Laurence M. Ball
  • Publisher :Unknown
  • Release Date :2018-06-07
  • Total pages :278
  • ISBN : 9781108420969
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Summary : This book sets the record straight on why the Federal Reserve failed to rescue Lehman Brothers during the financial crisis.

Financial Institutions, Markets, and Money

Financial Institutions, Markets, and Money
  • Author : David S. Kidwell,Richard Lewis Peterson
  • Publisher :Unknown
  • Release Date :1990
  • Total pages :739
  • ISBN : 0030304989
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Summary :

Federal Reserve Requirements Act of 1978

Federal Reserve Requirements Act of 1978
  • Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
  • Publisher :Unknown
  • Release Date :1978
  • Total pages :336
  • ISBN : STANFORD:36105019587877
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Summary :

In FED We Trust

In FED We Trust
  • Author : David Wessel
  • Publisher :Unknown
  • Release Date :2009-08-04
  • Total pages :336
  • ISBN : 9780307459701
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Summary : “Whatever it takes” That was Federal Reserve Chairman Ben Bernanke’s vow as the worst financial panic in more than fifty years gripped the world and he struggled to avoid the once unthinkable: a repeat of the Great Depression. Brilliant but temperamentally cautious, Bernanke researched and wrote about the causes of the Depression during his career as an academic. Then when thrust into a role as one of the most important people in the world, he was compelled to boldness by circumstances he never anticipated. The president of the United States can respond instantly to a missile attack with America’s military might, but he cannot respond to a financial crisis with real money unless Congress acts. The Fed chairman can. Bernanke did. Under his leadership the Fed spearheaded the biggest government intervention in more than half a century and effectively became the fourth branch of government, with no direct accountability to the nation’s voters. Believing that the economic catastrophe of the 1930s was largely the fault of a sluggish and wrongheaded Federal Reserve, Bernanke was determined not to repeat that epic mistake. In this penetrating look inside the most powerful economic institution in the world, David Wessel illuminates its opaque and undemocratic inner workings, while revealing how the Bernanke Fed led the desperate effort to prevent the world’s financial engine from grinding to a halt. In piecing together the fullest, most authoritative, and alarming picture yet of this decisive moment in our nation’s history, In Fed We Trust answers the most critical questions. Among them: • What did Bernanke and his team at the Fed know–and what took them by surprise? Which of their actions stretched–or even ripped through–the Fed’s legal authority? Which chilling numbers and indicators made them feel they had no choice? • What were they thinking at pivotal moments during the race to sell Bear Stearns, the unsuccessful quest to save Lehman Brothers, and the virtual nationalization of AIG, Fannie Mae, and Freddie Mac? What were they saying to one another when, as Bernanke put it to Wessel: “We came very close to Depression 2.0”? • How well did Bernanke, former treasury secretary Hank Paulson, and then New York Fed president Tim Geithner perform under intense pressure? • How did the crisis prompt a reappraisal of the once-impregnable reputation of Alan Greenspan? In Fed We Trust is a breathtaking and singularly perceptive look at a historic episode in American and global economic history.

Fed Power

Fed Power
  • Author : Lawrence Jacobs,Desmond King
  • Publisher :Unknown
  • Release Date :2021-03
  • Total pages :304
  • ISBN : 9780197573129
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Summary : Lawrence Jacobs and Desmond King's Fed Power is the first sustained examination of the Fed as a potent political institution that systematically provides concealed advantages to a privileged few. The authors trace the Fed's historic development from the fiery tug-of-war over monetary policy during the 19th century to its current position as the most important institution in the American economy, possessing unparalleled capacity and autonomy to intervene inprivate markets.

Nomination of G. William Miller

Nomination of G. William Miller
  • Author : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
  • Publisher :Unknown
  • Release Date :1978
  • Total pages :122
  • ISBN : PURD:32754067522429
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Summary :

The Federal Reserve

The Federal Reserve
  • Author : Stephen H. Axilrod
  • Publisher :Unknown
  • Release Date :2013-05-01
  • Total pages :160
  • ISBN : 9780199323869
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Summary : The Federal Reserve System--the central bank of the United States, better known as The Fed--has never been more controversial. Criticism has reached such levels that Congressman Ron Paul, contender for the Republican presidential nomination in 2012, published End the Fed, with blurbs from musician Arlo Guthrie and actor Vince Vaughn. And yet, amid a slow economy and partisan gridlock, the Fed has never been more important. Stephen H. Axilrod explains this influential agency-its powers, operations, how it sets policy-in The Federal Reserve, a timely addition to Oxford's acclaimed series, What Everyone Needs to Know®. Of the two major governmental tools for shaping the economy, Congress controls fiscal policy-taxation and spending-and the Fed makes monetary policy-influencing how much money circulates in the economy, and how quickly. Traditionally the Fed has relied on three instruments: open-market operations (buying and selling U.S. bonds), lending to banks, and setting reserve requirements on bank deposits. It also helps to regulate the financial system. Drawing on years of experience inside the Federal Reserve System, Axilrod shows how these tools actually work, and answers a series of increasingly detailed questions in the series format. He asks, for instance, if the system of regional Fed banks needs modification for today's technological landscape; if there is corruption in the Fed's governance; what happens to profits from its operations; the impact of political pressure; the extent of Congressional oversight; and just how independent it truly is. Whether discussing the Fed's balance sheet through the financial crisis of 2008 and beyond, the federal funds rate, or the international context, Axilrod displays a mastery of his subject. Coming in time for the Fed's 100th anniversary in 2013, this book deftly explains an institution that every American needs to understand. What Everyone Needs to Know® is a registered trademark of Oxford University Press.

Small Business Tax Needs

Small Business Tax Needs
  • Author : United States. Congress. Senate. Select Committee on Small Business
  • Publisher :Unknown
  • Release Date :1975
  • Total pages :470
  • ISBN : UCBK:C109106310
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Summary :

The Power and Independence of the Federal Reserve

The Power and Independence of the Federal Reserve
  • Author : Peter Conti-Brown
  • Publisher :Unknown
  • Release Date :2017-10-10
  • Total pages :360
  • ISBN : 9780691178387
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Summary : 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 uniquely clear and timely picture of one of the most important institutions in the United States and the world.

Managing the Fed’s Liftoff and Transmission of Monetary Policy

Managing the Fed’s Liftoff and Transmission of Monetary Policy
  • Author : Mr.Manmohan Singh
  • Publisher :Unknown
  • Release Date :2015-09-23
  • Total pages :20
  • ISBN : 9781513523811
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Summary : In recent years, many money and repo rates in the United States have been between zero and 25 basis points. As Fed’s liftoff approaches, the question of the level of these rates (and the markets that determine them) becomes increasingly important. The paper discusses (i) whether the Fed can control short–term rates as it starts to tighten; and (ii) what are the advantages and disadvantages of using asset sales versus a large reverse repo program (RRP). A large RRP by the Fed will deprive the financial system of the money pool (i.e., GSEs and money market funds) as the Fed will directly absorb the money on to its balance sheet. This will rust the financial plumbing that connects the money pool to collateral suppliers. Some asset sales may be preferred to a large RRP as this will result in a market-determined repo rate and will allow the Fed to reach its monetary policy liftoff objectives with minimal footprint on market plumbing. We also discuss cost of issuing short tenor T-bills relative to a large RRP in a rising rate environment.

Fed Up!

Fed Up!
  • Author : Colin Lancaster
  • Publisher :Unknown
  • Release Date :2021-05-04
  • Total pages :248
  • ISBN : 9780857198938
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Summary : Fed Up! tells the story of a global macro trader working amidst the greatest market panic we have seen since the Great Depression. As the COVID-19 pandemic spreads across the world, readers are taken through the late-stage decadence of an exuberant market bubble to the depths of the market crash and into the early innings of a recovery. It provides readers with a front row seat on trading activity, allowing them to experience the heartbeat of the markets. It’s also about money and opportunity. It’s about the moral dilemma of a man who is struggling as he reaches his own peak. Readers will experience the frenetic pace of life as a trader and will connect with the protagonist, experiencing his struggle to balance his personal values with the compromised values of the world around him. It shines a light on the largest policy issues confronting the U.S., while offering an entertaining and humorous look at the guys and gals who are the new market operators. This riveting account of the 2020 market crash from inside the mind of a global macro trader will serve as an exciting, nail-biting record of current times. It is about making fortunes while the world slips into misfortune. Will he beat the markets or will the markets beat him?