The Independence of the Federal Reserve System

The Federal Reserve System was designed to cooperate with private financial interests and still be independent. How it promoted this harmony—and yet avoided domination—was its glory and its cross. It is of the history of this achievement that this book tells.

The Independence of the Federal Reserve System

A. Jerome Clifford

1965 | 436 pages | Cloth $79.95
Economics
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Table of Contents

The Issue of Independence
The Necessity for Independence
The Weakness of the Structural Arrangement
The Operational Problems of Independence—1914-1930
Federal Reserve Relations with the Government in the Thirties
Federal Reserve Relations with the Government During World War II
Federal Reserve Relations with the Government in the Early Postwar Period
The Renascence of the Independence Issue—The 1951 Accord
The Consolidation of Independence After the Accord
Treasury-Federal Reserve Relations After the Accord—Theory And Practice
The Congressional Case for Control of the Federal Reserve System
The Congressional Means for Control of the Federal Reserve System
The Ownership of Federal Reserve Bank Stock as an Issue of Independence
The Independence of the Federal Reserve System—Retrospect And Prospect

Bibliography
Index