Federal Reserve Policy under the Lens of Economic History

The Federal Reserve System was created by Congress in 1913 following much discussion and debate. And discussion and debate – among researchers and policymakers both inside and outside of the institution -- have been a hallmark of the Fed ever since.

In that spirit, last week the Federal Reserve Bank of Cleveland kicked off events marking the upcoming 100-year anniversary of the Federal Reserve System with a gathering of giants in the field of economic history who reflected on the evolution and impact of Fed policies over the past century.

Among them were Mark Sniderman, executive vice president and chief policy officer with the Cleveland Fed, who reflected on the Federal Reserve during his 35-year tenure, and Michael Bordo, from Rutgers University, one of the world's leading economic historians and a visiting scholar at the Federal Reserve Bank of Cleveland. Both shared some of their views about the Federal Reserve with Forefront, the Cleveland Fed's policy publication.

Watch for a full report on the conference in the next issue of Forefront.

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