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The Federal Reserve – What Everyone Needs to Know - Oxford Scholarship Online
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The Federal Reserve: What Everyone Needs to Know

Stephen H. Axilrod


The Federal Reserve System—the central bank of the United States, better known as the Fed—has never been more controversial. Criticism has reached such levels that Congressman Ron Paul, contender for the Republican presidential nomination in 2012, published End the Fed, with blurbs from musician Arlo Guthrie and actor Vince Vaughn. And yet, amid a slow economy and partisan gridlock, the Fed has never been more important. This book explains this influential agency: its powers, operations, and how it sets policy. Of the two major governmental tools for shaping the economy, Congress controls fisc ... More

Keywords: Federal Reserve System, central bank, Fed, Ron Paul, Congress, fiscal policy, bank deposits, open-market operations, reserve requirements, corruption

Bibliographic Information

Print publication date: 2013 Print ISBN-13: 9780199934485
Published to Oxford Scholarship Online: September 2013 DOI:10.1093/acprof:oso/9780199934485.001.0001


Affiliations are at time of print publication.

Stephen H. Axilrod, author
Board of Governors of the Federal Reserve System