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Monetary Policy on the 75th Anniversary of Federal Reserve System
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When the 12 District Banks of the Federal Reserve System opened their doors for business on November 16, 1914, few observers could have foreseen the Fed's present role as a major, if not dominant, player in U. and, finally, a debate over the Fed's ability to influence real economic activity by changing the nominal quantity of money in circulation.
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When the 12 District Banks of the Federal Reserve System opened their doors for business on November 16, 1914, few observers could have foreseen the Fed's present role as a major, if not dominant, player in U. and, finally, a debate over the Fed's ability to influence real economic activity by changing the nominal quantity of money in circulation.
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