A Look Inside Two Central Banks: The European Central Bank And The Federal Reserve

November 17, 2008 4:37 AM

A Look Inside Two Central Banks: The European Central Bank And The Federal Reserve [PDF], 2003 article comparing and contrasting their basic structure and management from the St. Louis Federal Reserve Bank's magazine Review (blue ribbon for Most Generic Magazine Title). Author Patricia S. Pollard is now with the IMF.

One detail I picked out that is no longer valid is that beginning last month the Fed began paying interest on excess reserve balances. (Originally not scheduled to start until 2011, stepped up due to the financial crisis by the Emergency Economic Stabilization Act of 2008^.)

posted by XMLicious (2 comments total)

Ms Pollard certainly toes the party line with her paragraphs on "ensuring price stability" as the goal of central banks and the long dithyramb about "transparency." What a load of horse manure. I'm sure it advanced her career wonderfully.
posted by ikkyu2 at 12:06 PM on November 17, 2008

Higly informative but a bit too dry.
posted by Catfry at 12:35 PM on November 17, 2008