Federal Reserve System

Deviating from the typical commentary on how the Federal Reserve functions, this new study analyzes the entire philosophy behind regulation, discusses its appropriateness in today's economic world, and argues that the system is in need of an overhaul. The Federal Reserve System takes a hard look at the bank regulatory system in the U.S. which differs dramatically from all other developed countries in its diversity: Federal Reserve, Comptroller of the Currency, Federal Deposit Insurance Corporation, and fifty state bank superintendents. De Saint Phalle shows how and why this diverse system has developed, discusses the role of the Federal Reserve in the banking system, evaluates the Federal Reserve's mission both domestically and abroad, and examines the Reserve's role in controlling inflation and credit. The author also addresses the recent changes in the nature of banking, money, and credit, and suggests how bank regulations should adapt to these changes, particularly when insurance companies, investment bankers, and industrial firms now propose to offer financial services formerly rendered by commercial banks.

?[H]afer has succeeded in creating a concise, coherent, eminently readable introduction to the Federal Reserve System....College libraries should add the Encyclopedia to their collections. High-school and public libraries would also benefit their readers by putting a copy of the book on their shelves.?-EH.NET, "ÝH¨afer has succeeded in creating a concise, coherent, eminently readable introduction to the Federal Reserve System....College libraries should add the Encyclopedia to their collections. High-school and public libraries would also benefit their readers by putting a copy of the book on their shelves."-EH.NET, "[H]afer has succeeded in creating a concise, coherent, eminently readable introduction to the Federal Reserve System....College libraries should add the Encyclopedia to their collections. High-school and public libraries would also benefit their readers by putting a copy of the book on their shelves."-EH.NET