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About: Criticism of the Federal Reserve     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:Message106598915, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)

Type: yago:WikicatCriticismsyago:WikicatCriticismsOfEconomicsyago:Abstraction100002137yago:Communication100033020yago:Criticism106710546yago:Disapproval106709533yago:Message106598915 New Facet based on Instances of this Class

The Federal Reserve System (also known as "the Fed") has faced various criticisms since it was authorized in 1913. Nobel laureate economist Milton Friedman and his fellow monetarist Anna Schwartz criticized the Fed's response to the Wall Street Crash of 1929 arguing that it greatly exacerbated the Great Depression. More recent prominent critics include former Congressman Ron Paul.