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

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

XMLicious — Mon, 17 Nov 2008 04:37:00 -0800

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One detail I picked out that is no longer valid is that beginning last month the Fed began paying interest on excess reserve balances.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^.)

By: ikkyu2

ikkyu2 — Mon, 17 Nov 2008 12:06:48 -0800

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.

By: Catfry

Catfry — Mon, 17 Nov 2008 12:35:29 -0800

Higly informative but a bit too dry.