A History of the Federal Reserve, Volume 1: 1913-1951

To understand why the Federal Reserve acted as it did at key points in
its history, Meltzer draws on meeting minutes, correspondence, and
other internal documents (many made public only during the 1970s) to
trace the reasoning behind its policy decisions. He explains, for
instance, why the Federal Reserve remained passive throughout most of
the economic decline that led to the Great Depression, and how the
Board’s actions helped to produce the deep recession of 1937 and 1938.
He also highlights the impact on the institution of individuals such as
Benjamin Strong, governor of the Federal Reserve Bank of New York in
the 1920s, who played a key role in the adoption of a more active
monetary policy by the Federal Reserve. Meltzer also examines the
influence the Federal Reserve has had on international affairs, from
attempts to build a new international financial system in the 1920s to
the Bretton Woods Agreement of 1944 that established the International
Monetary Fund and the World Bank, and the failure of the London
Economic Conference of 1933.

Written by one of the world’s
leading economists, this magisterial biography of the Federal Reserve
and the people who helped shape it will interest economists, central
bankers, historians, political scientists, policymakers, and anyone
seeking a deep understanding of the institution that controls America’s
purse strings.
Forex Banking And Trading - A History of the Federal Reserve, Volume 1: 1913-1951

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