When Congress created the Federal Reserve Bank system via the Federal Reserve Act in 1913, it laid out the Fed's objectives as maximum employment, price stability and moderate long-term interest ...

The Federal Reserve System makes no sense. Oh, sure, you can understand why in a country as large as the United States you might want the central bank to be a bit, er, decentralized. That's why ...

The Fed believes the stimulus from quantitative easing depends on the stock of Treasuries and mortgage-backed securities that it owns, not on the flow of its purchases. If that view is correct ...