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Can We Trust the Fed?

Gregory D. Hess | SOMC | October 31, 2014

“In God We Trust” was first emblazoned on U.S. paper currency in 1957, and was steadily introduced to all U.S. paper currency by August of 1966.   How has this demonstrative, articulated trust in God underpinned the value of our currency? Trust in God, sadly it seems, has led to an over two-fold increase in the rate of deterioration in the value of our currency. Trust in God alone has not preserved the value of our currency – so in the spirit that we “render unto Caesar that which is Caeser’s” , trust in the Fed is likely more important to underpin the value of a dollar.

Federal Reserve Credibility and Reputation in Historical Perspective

Michael D. Bordo | SOMC | October 31, 2014

The Federal Reserve and many other central banks have achieved remarkable credibility in the two decades preceding the financial crisis of 2007-2008. However, the recent financial crisis and the call for central bankers to focus more on financial stability and especially the tools of macro prudential regulation may pose significant challenges for central banks to preserve their credibility in the future.

November 13, 2013
| Podcast

Matthew Hennessey, associate editor of City Journal, interviews Nicole Gelinas, Senior Fellow at the Manhattan Institute and contributing editor of City Journal, on what to expect from tomorrow's confirmation hearing for Federal Reserve Chair.

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March 8, 2013
| Video

Charles Blahous, one of the two Public Trustees for Medicare and Social Security has released a paper about Medicaid expansion under the health care law, cautioning states to “consider the likelihood that the federal financing support maybe ultimately reduced….”

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