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Monday, May 17, 2010

Despite Skepticism about Fed, Its Powers Won’t Shrink

“As the debate over how to overhaul financial regulation heated up last year, there was one thing Democrats and Republicans seemed to agree on: that the Federal Reserve had made major mistakes that contributed to the financial crisis and needed to have its wings clipped. Yet as the legislation has made its way through Congress, including with a round of amendments approved on the Senate floor last week, increasingly it appears that the changes to the Fed will be relatively minimal, and largely viewed as acceptable to leaders of the central bank.” (Washington Post, Monday)

The more things change…

FEE Timely Classic
“Monetary-Policy Disasters of the Twentieth Century” by Kirby R. Cundiff