3min chapter

The "What is Money?" Show cover image

"Money: Free and Unfree" with George Selgin (WiM209)

The "What is Money?" Show

CHAPTER

The Federal Reserve Is of Extreme Importance

How much influence do they have to day on the modern economy? Well, i don't know exactly how to, how to put any kind of a, you know, magnitude on that. Obviously, the federal reserve is of extreme importance in determining the nominal values our economy that we face. It's not able to determine how productive our factors are or make scarcity go away by printing money. But at the same time, it is of very, very great importance to how our economy performs.

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