Intro -- Contents -- Acknowledgments -- Chapter 1: Hitting a Tank with a Stick -- Chapter 2: The Burns Fed: Price Controls, Inflation, and the Watergate Cover-up with a Distinguished Professor at the Helm -- Chapter 3: The Master of Garblements -- Chapter 4: Spinning Mountains into Molehills --...

This article examines how the U.S. banking system responded to the founding of the Federal Reserve System (Fed) in 1914. The Fed was established to bring an end to the frequent crises that plagued the U.S. banking system, which reform proponents attributed to the nation’s...