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It's Time to Rein In the Fed

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  • Scott Fullwiler
  • L. Randall Wray

Abstract

The economic crisis that has gripped the US economy since 2007 has highlighted Congress's limited oversight of the Federal Reserve, and the limited transparency of the Fed’s actions. And since a Fed promise is ultimately a Treasury promise that carries the full faith and credit of the US government, the question is, Should the Fed be able to commit the public purse in times of national crisis?

Suggested Citation

  • Scott Fullwiler & L. Randall Wray, 2011. "It's Time to Rein In the Fed," Economics One-Pager Archive op_8, Levy Economics Institute.
    • Handle: RePEc:lev:levyop:op_8
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    References listed on IDEAS

    as
    1. L. R. Wray, 1990. "Money and Credit in Capitalist Economies," Books, Edward Elgar Publishing, number 474.
    2. L. Randall Wray, 1998. "Understanding Modern Money," Books, Edward Elgar Publishing, number 1668.
    3. L. Randall Wray (ed.), 2004. "Credit and State Theories of Money," Books, Edward Elgar Publishing, number 3204.
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