The Evolution of Monetary Policy & Banking in the US – Donald D.Hester

The Evolution of Monetary Policy & Banking in the US by Donald D.Hester Description

A succinct examination of the evolution of monetary policy and banking institutions during the last sixty years, emphasizing the dynamic interactions between the Federal Reserve and banking institutions as a result of financial market advances. Increased market competitiveness and monetary policy altered institutions. The book consists of two parts, which are structured chronologically. The first contains chapters that correlate to the tenure of Federal Reserve Board chairmen. It examines each period’s Federal Open Market Committee decisions closely and contends that innovations prompted changes in the formulation and implementation of monetary policy.

The second half studies how banking institutions evolved from a fairly conservative and controlled system in 1945 to highly imaginative financial corporations and how this history has influenced the distribution of credit, wealth, and income in the US.