Book Uncovers Federal Reserve's Active Role in 1920s Banking Crises
May 25, 2025
May 25, 2025
WASHINGTON, May 25 (TNSLrpt) -- A working paper from the Federal Reserve Bank of St. Louis highlights the surprising and often proactive role the Federal Reserve played in navigating banking crises during the 1920s, a period predating the widespread understanding of the Fed as a "lender of last resort." The 6-page working paper, issued on May 2, 2025, titled "Mark Carlson's The Young Fed: A Review Essay," authored by Jonathan Rose, offers an in-depth review of Mark Carls . . .