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a speech at the Fourth ECB Central Banking Conference, Frankfurt, Germany
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a speech at a symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, August 26, 2005
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a speech at the Fourth ECB Central Banking Conference, Frankfurt, Germany
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This paper examines the history of Federal Reserve Bank input into Federal Reserve System monetary policymaking. From the Fed's founding in 1914 through the Great Depression, the Reserve Banks held the balance of power. Dissatisfaction with the Fed's performance, however, led to a wholesale...
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and (ii) the conflicts that arose within the Fed over the allocation of private-sector credit when discount window loans … and Fed purchases of private securities were a substantial component of Federal Reserve credit. Those conflicts help … the conduct of monetary policy if it leads to increased pressure on the Fed to affect the allocation of credit. …
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