The Curious Case of Benjamin Strong
Peter Morgan
|
Posted 21.01.2013
|
UK
Read More:
Economics,
Central Banking,
Financial Crisis,
Debt,
UK Banking,
UK Finance,
UK Economy,
UK News
Benjamin Strong was the first governor of the Federal Reserve from 1914 to 1928. He was also the first economist to use the interest rate to control the aggregate price of goods (the level of inflation), using credit based mechanisms called open market operations as the main tool to achieve his objective.
