Some Historical Reflections on the Governance of the Federal Reserve
Michael Bordo ()
No 15107, Economics Working Papers from Hoover Institution, Stanford University
This paper examines the historical record on Federal Reserve governance and especially the relationship between the Reserve banks and the Board from the early years of the Federal Reserve to the recent crisis. From the record I consider some lessons for the current debate over reform of the Federal Reserve. It was prepared for the May 21, 2015 Hoover Institution conference, "Central Bank Governance and Oversight Reform: A Policy Conference."
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