A 100-Year-Old Monetary Disorder
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Curse is a strong word to use about the global influence of a 100-year-old institution headed throughout by officials dedicated to public service in the world’s greatest economy and greatest democracy. Yet how else can we describe the infernal cycles of irrational exuberance, with their sequels of recession and depression, or the persistent and sometimes violent erosion in the real value of money which the Federal Reserve has generated in the USA and globally, occasionally with devastating geopolitical result?
KeywordsInterest Rate Monetary Policy Central Bank Federal Reserve Credit Market
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