Exam: No Exam
The Federal Reserve is a highly atypical, if not unique, institution within the United States Government. It has an almost conspiratorial origin, an unusual public-private structure, and arguably greater legal and customary autonomy than any other agency created by Congress. Students will read and discuss selected books and articles on these topics. A theme running through the course will be the impact of the financial crisis of 2007-2009 in reawakening political controversy over these matters after the three quarters of a century that had elapsed since the New Deal overhaul of the Fed’s governance.
Note: This reading group will meet on the following dates: 1/23, 2/6, 2/27, 3/20, 4/3, and 4/17.