BEGINNER

Federal Reserve System

FEBRUARY 28, 2013

Created by the Federal Reserve Act in 1913, the Federal Reserve System is the apparatus that acts as a central bank in the United States. The Federal Reserve regulates the volume of base money in circulation, targets interest rates, sets minimum reserve levels for banks, and acts as lender of last resort during a financial crisis. After the financial crisis in 2008, the Federal Reserve began to pay interest on deposits held at the Federal Reserve and also gained financial regulatory power.

 

Gregory Rehmke - Money and Inflation

 

Steve Horwitz - Inflation

Related Freeman Articles

OUR ECONOMIC PAST

Beware of Years That End in 13

JANUARY 02, 2013 by LAWRENCE W. REED

I'm not superstitious, but I earnestly hope 2013 doesn't bring us anything as calamitous as 1913 did. It was a disastrous year that we're still paying a hefty, annual price for a full century later.

FEATURE

Wrapping an Enigma in a Mystery: Why Inflation Is So Misunderstood

OCTOBER 31, 2012 by RICHARD W. FULMER

Inflation wouldn't be so hard to understand if it wasn't wrapped up in so much untruth, wishful thinking, and misdirection, Richard Fulmer says.

ARTICLE

Austrian Inflation, Austrian Money, and Federal Reserve Policy

Why Salerno's Critiques Are Invalid

SEPTEMBER 01, 2000 by RICHARD H. TIMBERLAKE

ARTICLE

Money and Gold in the 1920s and 1930s: An Austrian View

The Federal Reserve's Monetary Policy Was Consistently Inflationist

OCTOBER 01, 1999 by JOSEPH T. SALERNO

ARTICLE

The Federal Reserve System

APRIL 01, 1972 by HANS SENNHOLZ

A descriptive analysis of "the most important tool in the armory of economic interventionism."

ONLINE EVENTS

FEE offers live online events for people new to the economic, ethical, and legal principles of a free society.

CURRENT ISSUE

April 2014

Around the world, people are struggling to throw off authoritarianism, with deeply mixed results. From Egypt to Venezuela, determined people build networks to overthrow their regimes, but as yet we have not learned to live without Leviathan. In this issue, Michael Malice and Gary Dudney discuss their glimpses inside totalitarian regimes, while Sarah Skwire and Michael Nolan look at how totalitarian regimes grind down the individual--and how individuals fight back. Plus, Jeffrey Tucker identifies a strain in libertarianism that, left unchecked, could reduce even our vibrant movement to something that is analogous to the grim aesthetic of architectural brutalism. The struggle for our lives and freedom is a struggle for beauty; it begins inside each of us.
Download Free PDF

PAST ISSUES

SUBSCRIBE

RENEW YOUR SUBSCRIPTION

img E-mail Subscription

VIEW PRIVACY POLICY