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SUMMER SCHOOL 7: The Fed & Volcker's Socks
Planet Money
Can America Create a Central Bank?
In 1907, Senator Nelson Aldrich came up with a plan to create a central bank in the U.S. The idea is not new; it's been around in Europe for decades. But creating a central bank has always been deeply unpopular among Americans. In 1910, an economist at UC Irvine and at the Richmond Fed tells us what happened next.
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