The Monetary Policy of the Federal Reserve

The evolution of the monetary standard from the start of the Federal Reserve through the end of the Greenspan era.

Foreword: what is the monetary standard?; 1. The pragmatic evolution of the monetary standard; 2. Learning and policy ambiguity; 3. From gold to fiat money; 4. From World War II to the Accord; 5. Martin and lean-against-the-wind; 6. Inflation is a nonmonetary phenomenon; 7. The start of the great inflation; 8. Arthur Burns and Richard Nixon; 9. Bretton Woods; 10. Policy in the Ford administration; 11. Carter, Burns, and Miller; 12. The political economy of inflation; 13. The Volcker disinflation; 14. Monetary policy after the disinflation; 15. Greenspan's move to price stability; 16. International bailouts and moral hazard; 17. Monetary policy becomes expansionary; 18. Departing from the standard procedures; 19. Boom and bust; 20. Backing off from price stability; 21. The Volcker¿Greenspan regime; 22. The Fed: inflation fighter or inflation creator?; 23. The stop-go laboratory; 24. Stop-go and interest rate inertia; 25. Monetary nonneutrality in the stop-go era; 26. A century of monetary experiments.