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The Federal Reserve

September 1, 2000 • Volume 10, Issue 29
Is the Fed too aggressive in fighting inflation?
By David Masci

Introduction

Fed Chairman Alan Greenspan has been called the second most powerful man in the United States. (Photo Credit: Reuters/Tim Aubry)
Fed Chairman Alan Greenspan has been called the second most powerful man in the United States. (Photo Credit: Reuters/Tim Aubry)

Alan Greenspan, chairman of the Federal Reserve Board, has been called the most powerful man in America, after President Clinton. As head of the nation's influential central bank, Greenspan and the Fed have played a key role in the nation's nearly 10-year record of uninterrupted economic growth. The Fed effectively sets the interest rates that banks charge for loans, which in turn affects the inflation rate. Defenders of the Fed say that by acting aggressively to cool down America's booming economy, Greenspan has kept inflation in check and the expansion going. But critics say the rate hikes were an overreaction that will unnecessarily dampen economic growth. Other analysts say the Fed has too much power and that its deliberations should be more open to the public.

ISSUE TRACKER for Related Reports
Banking
Oct. 05, 2012  Euro Crisis
Jan. 20, 2012  Financial Misconduct
Jan. 13, 2012  ‘Occupy’ Movement
Oct. 24, 2008  Financial BailoutUpdated
Sep. 01, 2000  The Federal Reserve
Jun. 22, 1990  S&L Bailout: Assessing the Impact
Nov. 04, 1988  Behind the S&L Crisis
Apr. 26, 1985  New Era in Banking
Nov. 18, 1983  Bankruptcy's Thriving Business
Aug. 07, 1981  Banking Deregulation
Jul. 19, 1974  Banking Stability
Jul. 17, 1968  Banking Innovations
May 06, 1964  Monetary Policy in Prosperity
May 16, 1940  Revision of the Securities Acts
Feb. 27, 1937  Expansion of Branch Banking
Sep. 03, 1935  The Decline of Commercial Banking
Dec. 11, 1934  Proposals for a Government-Owned Central Bank
Sep. 12, 1934  Bank Reserves and Credit Inflation
Nov. 27, 1933  Bank Credit in Depression and Recovery
Aug. 12, 1933  Closed Banks and Banking Reform
Apr. 04, 1933  Unified Control of Banking
Apr. 09, 1932  The Glass Banking Bill
Mar. 24, 1932  The Guaranty of Bank Deposits
Apr. 17, 1930  The International Bank and the Gold Standard
Feb. 08, 1930  Branch Banking and Chain Banking
Apr. 29, 1929  Mergers of Banking Institutions
Oct. 28, 1927  The Federal Reserve Rate Controversy
May 21, 1927  Labor Banking and Finance Since 1920
Jan. 31, 1924  The Northwestern Bank Failures and the Attack on Treasury Savings Certificates
Dec. 01, 1923  Why State Banks Do Not Join the Federal Reserve System, the Effect on the System and the Issues Involved
Nov. 23, 1923  Branch Bank Controversy
BROWSE RELATED TOPICS:
Financial Institutions
Inflation
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