Federal Reserve Policy

JAMES GRANT & RICHARD SYLLA: THE GREAT FED DEBATE!

December 20, 2013

Is the 100th anniversary of the creation of the Federal Reserve a cause for celebration or condemnation? Has the Fed, as Ben Bernanke said, “come full circle back to the original goal of preventing financial panics?Two financial historians, James Grant and Richard Sylla, debate the benefits and dangers of the Fed and explore its history with us. Continue Reading »

James Grant: The Federal Reserve’s Most Outspoken Critic

September 28, 2012

Federal Reserve Chairman Ben Bernanke has been widely credited with playing a key role in saving the global financial system from spiraling into a deeper recession. As a recent Financial Times headline read, “Central Bank Action Lifts Gloom”; “Bold Fed and ECB Moves Cheer Investors- Confidence Increases in U.S. and Europe.” There is no question that the Fed and to a lesser degree the ECB, the European Central Bank, are pulling out all stops to boost economic growth, investor confidence, and stock returns, going far beyond what their critics maintain is their proper role. As this week’s guest, financial journalist and historian James Grant told me, “Central bankers have morphed into central planners.” Continue Reading »

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