A 100-year History of Fed-origin Asset Price Inflation

Brendan Brown

Chapter 3 in A Global Monetary Plague, 2015, pp 73-101 from Palgrave Macmillan

Abstract: Abstract Great monetary experiments in the US did not start under the Administration of President Obama. In the 100-year plus history of the Federal Reserve, there have been several big experiments, although arguably these were not launched with such deliberation. Often the lead actors did not even realize that they were designing or administering an experiment. The triggers to experimentation have included transition from peace to war or war to peace, Great Depression, and public dissatisfaction at economic outcomes (high inflation, weak and volatile growth) for which monetary policymakers have been held responsible by the American public and their elected representatives.

Keywords: Monetary Policy; Federal Reserve; European Central Bank; Equity Market; Real Estate Market (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-47885-6_4

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DOI: 10.1057/9781137478856_4

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