The Federal Reserve System : : a History

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U.S. banking before the Federal Reserve -- The Aldrich-Vreeland Act prevents a panic in 1914 -- Original uncertainty regarding exercise of fed authority -- The Federal Reserve's role in World War I -- The discovery of a new tool for the Federal Reserve -- The fed in the 1920s -- The fed in the 1929-1933 contraction -- Policy changes in the Roosevelt administration -- The fed's role in World War II -- The fed between World War II and the Korean War -- The Korean War and the accord with the Treasury -- "Bills only" as an act of independence -- Operation twist and President Kennedy's tax cut -- Chairman Martin's battle with President Johnson over inflation -- Nixon replaces Martin with Burns and inflicts price controls on the economy -- Supply shocks in the 1970s make unemployment and inflation worse -- Carter replaces Burns with Miller and inflation worsens -- The Volcker era begins and the fed gets control over all banks -- Volcker's fed slows inflation at a cost -- Volcker is reappointed but there are changes on the board -- The Greenspan era begins -- The fed's response to the thrift crisis -- Economists dominate the board under Greespan -- Changes in the fed's operating procedure after the 1980s.

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