Central Banking in the United States

John H. Wood ()
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John H. Wood: Wake Forest University

Chapter Chapter 5 in Who Governs?, 2020, pp 145-191 from Palgrave Macmillan

Abstract: Abstract American money and banking have been determined within changing legal frameworks—such as the Banks of the United States, the Independent Treasury, and the Federal Reserve—determined primarily by legislation, the effects of which have been controversial and often unsatisfactory as measured by instability and inflation. The most significant constants have been the desires for more regulation (mainly to offset the effects of previous regulations) and the use of the banking system, assisted by government agencies, to monetize government debt.

Date: 2020
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DOI: 10.1007/978-3-030-33083-5_5

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