Federal Reserve Behavior and the Limits of Monetary Policy in the Current Economic Crisis

Gerald Epstein

Chapter 2 in The Political Economy of Central Banking, 2019, pp 57-66 from Edward Elgar Publishing

Abstract: In August 1979, virtually everyone with wealth and in the know were trying to get out of dollars. They were buying gold. They were buying anything "real" they could get their hands on. The dollar was in a free fall. And after presiding over three years of rapid, but inflationary economic growth, so was Jimmy Carter.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2019
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