Federal Reserve System
FEBRUARY 28, 2013
Created by the Federal Reserve Act in 1913, the Federal Reserve System is the apparatus that acts as a central bank in the United States. The Federal Reserve regulates the volume of base money in circulation, targets interest rates, sets minimum reserve levels for banks, and acts as lender of last resort during a financial crisis. After the financial crisis in 2008, the Federal Reserve began to pay interest on deposits held at the Federal Reserve and also gained financial regulatory power.
Gregory Rehmke - Money and Inflation
Steve Horwitz - Inflation
Related Freeman Articles
OUR ECONOMIC PAST
JANUARY 02, 2013 by LAWRENCE W. REED
I'm not superstitious, but I earnestly hope 2013 doesn't bring us anything as calamitous as 1913 did. It was a disastrous year that we're still paying a hefty, annual price for a full century later.
OCTOBER 31, 2012 by RICHARD W. FULMER
Inflation wouldn't be so hard to understand if it wasn't wrapped up in so much untruth, wishful thinking, and misdirection, Richard Fulmer says.
NOVEMBER 18, 2009 by CHIDEM KURDAS
The financial crisis was caused by the Fed's perverse incentives. More government won't prevent future crises.