![]() It promises to recast our understanding of the central bank in its second century.Robert L. ![]() They include critical accounts of the Great Depression, the Great Inflation, and the Great Recession. The Federal Reserve: A New History arrives as a critical history for a critical moment. Recast through this lens and enriched with archival materials, Hetzel's sweeping history offers a new understanding of the bank's watershed moments since 1913. He draws lessons about what monetary rule is stabilizing. Hetzel compares periods in which the Fed stabilized the economy and periods in which it destabilized the economy. In The Federal Reserve: A New History (University of Chicago Press, 2022), Robert Hetzel draws on a 43-year career as an economist in the central bank to trace the influence of the Fed on the American economy. ![]()
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