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Leah Downey, "Our Money: Monetary Policy as If Democracy Matters" (Princeton UP, 2024)

New Books in Economics

CHAPTER

The Evolution of the Federal Reserve: A Public-Private Partnership

This chapter delves into the historical development of the Federal Reserve System, outlining its establishment in 1913 and the gradual transfer of monetary policy powers. It highlights the unique blend of public and private aspects and the significant changes that have shaped the Fed's crucial role in the U.S. economy.

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