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It's Time to Rein In the Fed

Scott Fullwiler and L. Randall Wray

Economics One-Pager Archive from Levy Economics Institute

Abstract: The economic crisis that has gripped the US economy since 2007 has highlighted Congress's limited oversight of the Federal Reserve, and the limited transparency of the Fed’s actions. And since a Fed promise is ultimately a Treasury promise that carries the full faith and credit of the US government, the question is, Should the Fed be able to commit the public purse in times of national crisis?

Date: 2011-02
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