Briefings Magazine: The Central Bank Dip

 By SIMON CONSTABLE

What a difference a few decades make. In 1982, the reputation of the Federal Reserve was riding high after its leader Paul Volcker had deftly tamed the double-digit inflation that blighted the US economy during the late 1970s. A year later, when Hong Kong suffered a currency crisis, the Fed’s tangential involvement played an essential part in lifting the then-British territory out of economic and political turmoil. While the Fed’s glow lasted into the early 21st century, the institution now seems to have lost some of its luster, as have other major central banks, according to some experts. Read more here.

Stone on the Wall of the Federal Reserve Bank of New York

Benji the Pen, CC BY-SA 4.0, via Wikimedia Commons