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Who Needs the Fed?

Author : John Tamny
Publisher : Encounter Books
Release : 2016-05-24
Category : Business & Economics
ISBN : 9781594038327
File Size : 30,9 Mb
Total Download : 160

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Book Summary: The Federal Reserve is one of the most disliked entities in the United States at present, right alongside the IRS. Americans despise the Fed, but they’re also generally a bit confused as to why they distrust our central bank. Their animus is reasonable, though, because the Fed’s most famous function—targeting the Fed funds rate—is totally backwards. John Tamny explains this backwardness in terms of a Taylor Swift concert followed by a ride home with Uber. In modern times, he points out, the notion of credit has been perverted, so that most people believe it’s money and that the supply of it can therefore be increased. This false notion has aggrandized the Fed with power that it can’t possibly use wisely. The contrast between the grinding poverty of Baltimore and the abundance of Silicon Valley helps illustrate the problem, along with stories about Donald Trump, Robert Downey Jr., Jim Harbaugh (the Michigan football coach), and robots. Who Needs the Fed? makes a sober case against the Federal Reserve by explaining what credit really is, and why the Fed’s existence is inimical to its creation. Readers will come away entertained, much more knowledgeable, and prepared to argue that the Fed is merely superfluous on its best days but perilous on its worst.

Who Needs the Fed?

Author : John Tamny
Publisher : Unknown
Release : 2016-05-24
Category : Art
ISBN : 1594038317
File Size : 21,8 Mb
Total Download : 443

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Book Summary: Today, the Federal Reserve is among the most disliked entities in the United States, having joined the IRS as the object of heaving electoral hatred. Americans despise the Fed, but if they are honest they are also a bit confused about why they so loathe our central bank or about what the Fed actually does--and, if they are really honest, how banking and credit work in the first place. The truth is, credit is not a difficult concept to understand if explained clearly and simply. And understanding credit is key to understanding the economy and why the Fed and its most famous function--setting the interest rate--is so totally backwards. With the help of Taylor Swift, Uber, Donald Trump, Michigan coach Jim Harbaugh, and robots,Who Needs the Fed? explains credit, how it works, and how our misunderstanding of credit and money has given the Fed power that it can't possibly use wisely. Who Needs the Fed? is an everyman’s case against the Fed that will leave readers enlightened, entertained and, above all, prepared to explain why the Fed is happily inconsequential on its best days, while perilous on its worst.

The Federal Reserve

Author : S. H. Axilrod
Publisher : Oxford University Press on Demand
Release : 2013-06-06
Category : Business & Economics
ISBN : 9780199934485
File Size : 22,9 Mb
Total Download : 923

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Book Summary: Discusses the legal basis for the Federal Reserve and the powers the institution can carry out, highlights key events in U.S. postwar financial history, and explains how monetary policy is tied to the political and social scenes.

The Myth of Independence

Author : Sarah Binder,Mark Spindel
Publisher : Princeton University Press
Release : 2019-07-09
Category : Business & Economics
ISBN : 9780691191591
File Size : 14,9 Mb
Total Download : 471

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Book Summary: An in-depth look at how politics and economics shape the relationship between Congress and the Federal Reserve Born out of crisis a century ago, the Federal Reserve has become the most powerful macroeconomic policymaker and financial regulator in the world. The Myth of Independence marshals archival sources, interviews, and statistical analyses to trace the Fed’s transformation from a weak, secretive, and decentralized institution in 1913 to a remarkably transparent central bank a century later. Offering a unique account of Congress’s role in steering this evolution, Sarah Binder and Mark Spindel explore the Fed’s past, present, and future and challenge the myth of its independence.

The Federal Reserve System Purposes and Functions

Author : Bd of Governors of the Federal Reserve
Publisher : Unknown
Release : 2002
Category : Business & Economics
ISBN : 0894991965
File Size : 14,9 Mb
Total Download : 308

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Book Summary: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.

End the Fed

Author : Ron Paul
Publisher : Grand Central Publishing
Release : 2009-09-16
Category : Political Science
ISBN : 9780446568180
File Size : 27,8 Mb
Total Download : 536

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Book Summary: A provocative and controversial treatise that argues we cannot actually fix the broken economy without discussing the 800-lb gorilla in the room: the Federal Reserve. Most people think of the Fed as an indispensable institution without which the country's economy could not properly function. But in End the Fed, Ron Paul draws on American history, economics, and fascinating stories from his own long political life to argue that the Fed is both corrupt and unconstitutional. It is inflating currency today at nearly a Weimar or Zimbabwe level, a practice that threatens to put us into an inflationary depression where $100 bills are worthless. What most people don't realize is that the Fed -- created by the Morgans and Rockefellers at a private club off the coast of Georgia -- is actually working against their own personal interests. Congressman Paul's urgent appeal to all citizens and officials tells us where we went wrong and what we need to do fix America's economic policy for future generations.

Central Banking 101

Author : Joseph Wang
Publisher : Joseph Wang
Release : 2020-01-18
Category : Business & Economics
ISBN : 9780999136751
File Size : 51,9 Mb
Total Download : 861

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Book Summary: Central banking is magic. With a few words, the Fed can lift the stock market out of desperation and catapult it towards euphoric highs. With a few keystrokes, the Fed can conjure up trillions of dollars and fund virtually unlimited Federal spending. And with a few poor decisions, the Fed can plunge the entire world into a recession. The Federal Reserve is one of the most powerful institutions in the world, and also one of the most difficult to understand. The Fed acts through its Open Markets Desk, which sits at the heart of the global financial system as the world’s ultimate and limitless provider of dollars. On behalf of policy makers, the Desk gathers market intelligence from all the major market participants, sifts through reams of internal data, and works behind the scenes keep the financial system intact. It is responsible for all of the Fed's market operations, from trillions in quantitative easing to hundreds of billions in repo and FX-swap loans. The financial crises of 2008 and 2020 abated only through the emergency interventions of the Desk. Joseph Wang spent five years studying the monetary system as a trader on the Desk. From that vantage point, Joseph saw firsthand how the Fed operates and how the financial system really works. This book is a distillation of his experience that aims to educate and demystify. After reading this book, you will understand how money is created, how the global dollar system is structured, and how it all fits into the broader financial system. The views in this book do not necessarily reflect those of the Federal Reserve Bank of New York or the Federal Reserve System.

The Fed and Lehman Brothers

Author : Laurence M. Ball
Publisher : Cambridge University Press
Release : 2018-06-07
Category : Business & Economics
ISBN : 9781108420969
File Size : 26,9 Mb
Total Download : 215

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Book Summary: This book sets the record straight on why the Federal Reserve failed to rescue Lehman Brothers during the financial crisis.