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Federal Reserve Bank of Cleveland: 'Federal Reserve Structure, Economic Ideas, and Banking Policy During the "Quiet Period" in Banking'
January 18, 2025
CLEVELAND, Ohio, Jan. 18 (TNSres) -- The Federal Reserve Bank of Cleveland issued the following white paper (No. 25-01) on January 6, 2025, by Michael D. Bordo and Edward S. Prescott entitled "Federal Reserve Structure, Economic Ideas, and Banking Policy During the "Quiet Period" in Banking."

Here are excerpts:

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We evaluate the decentralized structure of the Federal Reserve System as a mechanism for generating and processing new ide . . .

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