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Topic: Criticism of the Federal Reserve

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Federal Reserve

Federal Reserve System

Monetary Policy

Inflation

Federal Reserve Act

	Federal Reserve - Wikipedia, the free encyclopedia (Site not responding. Last check: 2007-09-11)
		The Federal Reserve System is composed of a central Board of Governors in Washington, D.C. and twelve regional Federal Reserve Banks located in major cities throughout the nation.
		Fractional reserve banking: The common practice by banks of retaining only a fraction of their deposits to satisfy demands for withdrawals, lending the remainder at interest to obtain income that can be used to pay interest to depositors and provide profits for the banks' owners.
		Criticism of the federal reserve include what may be general criticism of a central bank system, for example that it cartelizes the banking industry and monopolizes the creation of money.
	www.bucyrus.us /project/wikipedia/index.php/Federal_Reserve (1441 words)

	CONK! Encyclopedia: U.S._Federal_Reserve_Bank (Site not responding. Last check: 2007-09-11)
		The Federal Reserve is financially independent because it runs a surplus, due in part to its ownership of government bonds.
		Finally, there is a theory that the Federal Reserve is not neutral with regard to U.S. elections, and tends to lower interest rates to benefit incumbents it likes and raise them to harm the electoral prospects of those incumbents it does not like.
		The Federal Reserve should not hire from the private banking sector and should prohibit former Fed member from entering the private financial sector after working at the Fed. This is said to be a conflict of interest: the insane are running the insane asylum.
	www.conk.com /search/encyclopedia.cgi?q=U.S._Federal_Reserve_Bank (3406 words)

	Federal Reserve
		The Federal Reserve System (also known as the Federal Reserve or simply "The Fed") is the central bank of the United States.
		The Federal Reserve System is composed of a central Board of Governors -- in Washington, D.C, and twelve regional Federal Reserve Banks located in major cities throughout the nation.
		On the 23rd of July 2003 a Federal Reserve committee cut the federal funds rate by one-quarter of a percentage point - to 1 percent.
	www.brainyencyclopedia.com /encyclopedia/f/fe/federal_reserve.html (1416 words)

	Workers World [Sam Marcy]: The slump that won't go away (Nov. 7, 1991)
		Federal Reserve chair Alan Greenspan not only delivered a grim, downbeat assessment of the capitalist economy, but he also criticized the bankers.
		The Federal Reserve chair is often referred to as the second most important government official after the president.
		It should be noted that when the Federal Reserve reduces interest rates for bankers, the banks aren't obligated to then reduce their own interest rates for ordinary consumers.
	www.workers.org /marcy/1991/sm911107.html (2584 words)

	Federal Reserve Bank of Minneapolis - Annual Report - Achieving Economic Stability (1987) (Site not responding. Last check: 2007-09-11)
		The increase in required reserves, which necessarily accompanied the bulge in the money supply resulting from the surge in bank lending to securities firms, was met in part by sizable open market purchases of U.S. government securities by the New York Federal Reserve Bank and by discount window borrowing by New York commercial banks.
		Federal government spending, including transfer payments, was small before and during the 1929-1933 period.
		Consequently, had the Federal Reserve been aggressively expansionary, so that growth in the money stock was maintained during the period, the fall in economic activity could have been moderated considerably.
	woodrow.mpls.frb.fed.us /pubs/ar/ar1987.cfm (3784 words)

	Federal Reserve Article, FederalReserve Information (Site not responding. Last check: 2007-09-11)
		It is considered anindependent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it doesnot receive funding appropriated by the Congress, and the terms of the members of the Board of Governors span multiplepresidential and congressional terms.
		The twelve regional Federal Reserve Banks, which were established by the Congress as the operating arms of the nation'scentral banking system, are organized much like private corporations—possibly leading to some confusion about“ownership.” For example, the Reserve Banks issue shares of stock to member banks.
		Some of these critics say that the U.S. Congress was tricked by the world elite into creating the Federal Reserve System in1913 for the purpose of money control through inflation (invisible taxation of the masses), extremely high and profitableinterest rates, and outright taxation through the creation of liens and bonds paid for by U.S. citizens.
	www.anoca.org /banks/fed/federal_reserve.html (1298 words)

	Federal Reserve Bank of Minneapolis - The Region - Interview with Wayne Angell March 1994) (Site not responding. Last check: 2007-09-11)
		Region: Before you came to the Federal Reserve, yours was a particularly diverse background: professor of economics, farmer, politician, banker and economic consultant, among others.
		There are times that Reserve banks or Board staff may tend to want to be so careful in regard to formulating ideas that there is an insistence on consensus before it is brought to the board of directors or before it is brought to the Board of Governors.
		And just as the peak reserve overdrafts run to $120 billion, at that point in time there is $120 billion of excess reserves in other banks that is being hoarded.
	woodrow.mpls.frb.fed.us /pubs/region/94-03/int943.cfm (5516 words)

	WORKING PAPER 9405 (Site not responding. Last check: 2007-09-11)
		The Federal Reserve Board led the way in Hoover's rethinking of liberal orthodoxy in the crucial year running from the summer of 1931 through the spring of 1932.
		A Federal liquidating corporation was to be formed, the capital of which would be supplied by an appropriation from the Treasury and from assessments against member banks as well as Federal Reserve Banks' surpluses.
		His autobiography should be required reading for all Federal Reserve System economists and lawyers, for both the good and the bad in it, and is a valuable source of information on the 1930s not found elsewhere in mainstream economic literature.
	www.wealth4freedom.com /truth/2/9405.htm (14666 words)

	Secrets of the Federal Reserve
		Thus the proposed Federal Reserve Bank was to be "controlled by Congress" and answerable to the government, but the majority of the directors were to be chosen, "directly or indirectly" by the banks of the association.
		The Federal Reserve System began its operations in 1914 with the activity of the Organization Committee, appointed by Woodrow Wilson, and composed of Secretary of the Treasury William McAdoo, who was his son-in-law, Secretary of Agriculture Houston and Comptroller of the Currency John Skelton Williams.
		Because the Federal Reserve Bank of New York was to set the interest rates and direct open market operations, thus controlling the daily supply and price of money throughout the United States, it is the stockholders of that bank who are the real directors of the entire system.
	www.apfn.org /apfn/reserve.htm (16820 words)

	Daily News by Radok News
		Federal regulators are considering a new indecency regulation that would require broadcasters to keep recordings of their programs for a limited period of time.
		Federal Reserve officials opted Tuesday to hold interest rates at 1958 lows — but changed the language of their statement to indicate that a rate hike may happen sooner than later, although it said the move would come at a "measured" pace.
		Federal regulators Thursday proposed $495,000 in indecency fines against Clear Channel Communications for broadcasts by Howard Stern, prompting the nation's largest radio chain to drop the country's best-known shock jock.
	www.radoknews.com (8477 words)

	Greenspan defends Fed's policies - The Washington Times: Business (Site not responding. Last check: 2007-09-11)
		Greenspan, entering his 17th year as chairman of the Fed, used an appearance before a prestigious monetary conference to defend his legacy against the recent attacks and an old but persistent complaint that his biggest error was waiting too long to prick the stock market bubble of the late 1990s.
		But he said that rules, such as establishing a target for inflation, are "by their nature simple" and a poor substitute for discretion on the part of policy-makers trying to manage a wide variety of risks in a complex economy.
		Greenspan and his colleagues have been criticized for sending misleading signals to financial markets beginning in May with their comments on deflation, triggering a roller-coaster ride in the bond market.
	washingtontimes.com /business/20030829-092111-7726r.htm (764 words)

	RFE Table of Contents (complete)
		Federal Budget for the Fiscal Years 1997 to 2005 - summary and very detailed federal budget info
		FRASER (Federal Reserve Bank of St. Louis) - real-time data
		Federal Reserve Bank of San Francisco Glossary - general glossary with a banking and monetary emphasis
	www.rfe.org /toc.php?show=complete (3581 words)

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	goliath.ecnext.com /comsite5/bin/...&words=Federal_Reserve_Board (255 words)

	Greenspan Defends Policy On Interest Rates (Site not responding. Last check: 2007-09-11)
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		JACKSON HOLE, Wyo. — Alan Greenspan yesterday mounted a strong defense of his handling of monetary policy against criticism that the Federal Reserve Board has unnecessarily confused financial markets recently with its mixed signals on interest rates.
		Ashe enters his 17th year as chairman of the Fed, Greenspan used an appearance before a prestigious monetary conference to defend his legacy against the recent attacks.
	www.webprowire.com /summaries/571949.html (225 words)

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