The Fed Has Got It Wrong

Dimitris N. Chorafas
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Dimitris N. Chorafas: New York Academy of Sciences

Chapter 2 in Financial Boom and Gloom, 2009, pp 34-60 from Palgrave Macmillan

Abstract: Abstract One of the important themes for the world economy discussed at the 2008 World Economic Forum in Davos, Switzerland, revolved around the fact that central banks have lost control of the economy by allowing commercial banks, investment banks and other financial institutions to do as they please. This attitude, which has been wrongly called neo-liberalism, has considerably diminished the central banks’ clout and therefore their effectiveness as: Guardians of economic stability, Promoters of orderly economic growth through regulation of money supply, and Safeguards of value both of the money and of other assets.1

Keywords: Interest Rate; Central Bank; Hedge Fund; Credit Default Swap; Investment Bank (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-0-230-23583-0_2

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DOI: 10.1057/9780230235830_2

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