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The Federal Reserve: History and Impacts
This chapter explores the historical significance of the Federal Reserve's establishment in relation to World War I and its long-term implications on the U.S. economy. It critiques various monetary policies, emphasizing how they can exacerbate economic crises, and draws parallels to the cyclical nature of market failures, particularly with the lead-up to the 2008 financial crisis. The conversation highlights the tensions between regulatory control and the inherent flaws within the central banking system.