The ABC of the Federal Reserve System: Why the Federal Reserve System Was Called Into Being, the Main Features of Its Organization, and How It Works (Paperback) (ISBN-13: 9781025257884)

"The ABC of the Federal Reserve System" provides a comprehensive and accessible introduction to the foundational principles and operational mechanics of the United States' central banking system. Written by renowned economist Edwin Walter Kemmerer, this work meticulously explains the historical necessity that led to the creation of the Federal Reserve, detailing the economic instabilities and banking panics that preceded its establishment.

The text explores the main features of the system's organization, including the structure of the Federal Reserve Banks and the governing functions of the Federal Reserve Board. Kemmerer breaks down complex financial concepts-such as rediscounting, bank notes, and the mobilization of reserves-into clear, understandable terms for the lay reader and student alike. By examining how the system works to provide an elastic currency and improve the supervision of banking, "The ABC of the Federal Reserve System" serves as an essential guide to the machinery of American finance. This classic economic study remains a valuable resource for understanding the origins and early evolution of modern monetary policy and the stabilization of the national economy.

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