Sterilized Foreign Exchange Intervention: The Fed Debate in the 1960s

26 Pages Posted: 17 Nov 2012

See all articles by Robert L. Hetzel

Robert L. Hetzel

Federal Reserve Banks - Federal Reserve Bank of Richmond

Date Written: 1996

Abstract

The Federal Reserve System began its intervention in the market for foreign exchange in 1962. Such intervention is undertaken at the behest of the Treasury. That year there was a spirited debate within the Federal Reserve over whether this involvement would be consistent with the Fed's independence. That debate dealt with some of the fundamental issues of the Fed's role in the U.S. government.

Suggested Citation

Hetzel, Robert L., Sterilized Foreign Exchange Intervention: The Fed Debate in the 1960s (1996). FRB Richmond Economic Quarterly, vol. 82, no. 2, Spring 1996, pp. 21-46, Available at SSRN: https://ssrn.com/abstract=2125908

Robert L. Hetzel (Contact Author)

Federal Reserve Banks - Federal Reserve Bank of Richmond ( email )

P.O. Box 27622
Richmond, VA 23261
United States

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
28
Abstract Views
430
PlumX Metrics