central bank summary
Below is the article summary. For the full article, see central bank.
Bank of the United States Summary
Bank of the United States, central bank chartered in 1791 by the U.S. Congress at the urging of Alexander Hamilton and over the objections of Thomas Jefferson. The extended debate over its constitutionality contributed significantly to the evolution of pro- and antibank factions into the first
Walter Bagehot Summary
Walter Bagehot was an economist, political analyst, and editor of The Economist who was one of the most influential journalists of the mid-Victorian period. His father’s family had been general merchants for several generations, while his maternal uncle Vincent Stuckey was the head of the largest
monetary policy Summary
Monetary policy, measures employed by governments to influence economic activity, specifically by manipulating the supplies of money and credit and by altering rates of interest. (Read Milton Friedman’s Britannica entry on money.) The usual goals of monetary policy are to achieve or maintain full
Federal Reserve System Summary
Federal Reserve System, central banking authority of the United States. It acts as a fiscal agent for the U.S. government, is custodian of the reserve accounts of commercial banks, makes loans to commercial banks, and oversees the supply of currency, including coin, in coordination with the U.S.