the primary motivation for the federal reserve was to moderate interest rates through a central body and prevent bank panics/bank runs
With the (primary) secondary objective of lowering and raising rates to attempt to coincide business cycles with republican and democratic presidential terms.
I feel like the fact that they’ve done this for decades kind gets ignored.
With the (primary) secondary objective of lowering and raising rates to attempt to coincide business cycles with republican and democratic presidential terms. I feel like the fact that they’ve done this for decades kind gets ignored.
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2166647