The importance of international considerations in the US Federal Reserve System's deliberations has become more and more important over time as global financial crises and events create ever stronger repercussions in the US economy. This book critically evaluates the role of the Federal Reserve System as a player in the international monetary system over the past one hundred years, starting with its initial responsibility under the gold standard and looking ahead to the challenges it will face in the twenty-first century under the fiat standard. The book is based on a conference of the same name held at the Federal Reserve Bank of Dallas in September 2014, as part of the Federal Reserve System's centennial, and contributors include many of the most highly regarded financial historians and policymakers.
Michael D. Bordo is Board of Governors Professor of Economics at Rutgers University, New Jersey.
Mark A. Wynne is a Vice President at the Federal Reserve Bank of Dallas, Associate Director of Research for International Economics, and the founding director of the Bank's Globalization and Monetary Policy Institute.