IDEAS home Printed from https://ideas.repec.org/p/lev/levypn/13-08.html
   My bibliography  Save this paper

Unusual and Exigent: How the Fed Can Jump-start the Real Economy

Author

Listed:
  • William Greider

Abstract

Though it is not widely understood, the Federal Reserve has enormous untapped power to directly stimulate or influence the flows of lending and spending that generate jobs. Doing so would fulfill the Fed's often neglected "dual mandate": to strive for maximum employment as well as stable money. Fed technocrats often plead that legal or technical barriers won't allow them to do this, but their objections reflect an institutional bias that favors finance over industry, capital over labor. The central bank has abundant precedent from its own history for taking more direct actions to aid the economy. And it has ample legal authority to lend to all kinds of businesses that are not banks. This policy note was originally published, in slightly different form, as "Can the Federal Reserve Help Prevent a Second Recession?," "The Nation", November 26, 2012. Reprinted with permission.

Suggested Citation

  • William Greider, 2013. "Unusual and Exigent: How the Fed Can Jump-start the Real Economy," Economics Policy Note Archive 13-08, Levy Economics Institute.
    • Handle: RePEc:lev:levypn:13-08
    as

    Download full text from publisher

    File URL: http://www.levyinstitute.org/pubs/pn_13_8.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. William Greider, 2013. "Debt Relief and the Fed's Money-creation Power," Economics Policy Note Archive 13-07, Levy Economics Institute.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.

      More about this item

      NEP fields

      This paper has been announced in the following NEP Reports:

      Statistics

      Access and download statistics

      Corrections

      All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:lev:levypn:13-08. See general information about how to correct material in RePEc.

      If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

      If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

      If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

      For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Elizabeth Dunn (email available below). General contact details of provider: http://www.levyinstitute.org .

      Please note that corrections may take a couple of weeks to filter through the various RePEc services.

      IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.