Discusses its functions, successes and failures, political control and role in the 1992 elections through July 1992.
Written in 1992; 2,700 words; 10 sources; $ 95.95
From the Paper:
"The Federal Reserve System is one of the most powerful institutions of the United States government, and one of the least "democratic." It is also one of the least understood (Greider, 1987: 11-12). The Federal Reserve -- often called simply the "Fed" -- is charged with the responsibility for managing the American money supply, ensuring that sufficient money is available to lubricate the wheels of the economy, while not flooding the economy with so much cash that inflation runs wild, perhaps ultimately reducing the currency to worthless paper. Because of its role, the Federal Reserve has a great influence -- but not, as recent events have shown, an unlimited influence -- on the direction of the U.S. economy. By promoting "easy money," or the growth of the money supply and of credit, the Fed can drive down interest rates, and (under most ..."
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