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...

Based on a conference held as part of the US Federal Reserve System's centennial, this book critically evaluates the role of the Federal Reserve System in the international monetary system over the past one hundred years and looks ahead to the challenges it will face under the twenty-first-century fiat standard.