National monetary policy by regional design: the evolving role of the Federal Reserve banks in Federal Reserve System policy

Preprint OPEN
David C. Wheelock (1999)
  • Subject: Federal Reserve System - History ; Monetary policy - United States ; Federal Open Market Committee

This paper examines the history of Federal Reserve Bank input into Federal Reserve System monetary policymaking. From the Fed's founding in 1914 through the Great Depression, the Reserve Banks held the balance of power. Dissatisfaction with the Fed's performance, howeve... View more
  • References (8)

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