This year marks the 100th anniversary of the Federal Reserve. And in this month’s Cato Unbound Cato scholar Gerald O’Driscoll calls the Fed’s record “unenviable,” and economist Lawrence H. White agrees. Scott Sumner suggests that while central banks may have their problems, inflation isn’t one of them. Further, he recommends a flexible monetary policy that continues to use central banking to stabilize the economy in times of crisis.
Friday, November 22, 2013
Fed's Centenary
This year marks the 100th anniversary of the Federal Reserve. And in this month’s Cato Unbound Cato scholar Gerald O’Driscoll calls the Fed’s record “unenviable,” and economist Lawrence H. White agrees. Scott Sumner suggests that while central banks may have their problems, inflation isn’t one of them. Further, he recommends a flexible monetary policy that continues to use central banking to stabilize the economy in times of crisis.
