Topics

Agriculture 19 items view description
Documents regarding the relationship between agriculture and the economy, including: inflation, drought, an expanding economy and laws and legislation.
Alternative Monetary Standards 10 items view description
Discussions and debates regarding the use of various monetary standards, including gold and silver standards.
Annual Reports 24 items view description
A collection of historical annual reports issued by the Federal Reserve System and other entities.
Audio and Visual Resources 32 items view description
Audio clips, videos, photographs, graphic charts, and other illustrations.
Banking History 68 items view description
Documents relating to the banking history of the United States. Also includes statistical publications and historical directories of banks.
Banking Laws and Legislation 127 items view description
Documents pertaining to laws and legislation regarding banking, both inside and outside of the United States. Current United States federal banking laws can be browsed at http://www.law.cornell.edu/uscode/text/12.
Banking Reserves 15 items view description
Bank reserves are money set aside by banks to pay demand depositors. These reserves are put in place to protect the depositor and cannot be lent. Reserve limits are set by either the Federal Reserve Bank or the state depending upon whether the bank is a Federal Reserve member bank or a state bank.

This collection includes documents, bibliographies, and statistical releases related to banking reserves.
Books 46 items view description
Various economic and Federal Reserve related monographs contained in the FRASER collection.
Bureau of Labor Statistics Publications 33 items view description
Posted publications from the Bureau of Labor Statistics. The Bureau of Labor Statistics is the Federal agency responsible for measuring activity in the labor market along with working conditions. They collect and analyze this information in order to assist economic decision making on all levels. Consumer price index, employment, producer price index and women in the workforce are some of the topics included in this collection. For more information on the Bureau of Labor Statistics go to their website.
Business Cycles 11 items view description
Business cycles are fluctuations in economic activity over a period of time. Documents in this collection relate to economic booms and recessions along with indicators and causes of economic business cycles. More information about business cycles can be found on Wikipedia.
Central Bank History, United States 13 items view description
Collections of publications that document the history of central banking in America.
First and Second Banks of the United States 15 items view description
This collection features bibliographic materials or secondary source materials relating to the First and Second Banks of the United States. Primary source materials relating to the banks are available in digitized versions at http://fraser.stlouisfed.org/banks/
National Monetary Commission 53 items view description
This commission was created by the Aldrich-Vreeland Act in 1908 in reaction to the Panic of 1907. It studied the history of central banking in the United States, as well as the central banks of Europe. The 30 reports issued by the commission became the basis for the Federal Reserve Act of 1913.
Classroom Materials 10 items view description
Primary source materials for economic education.
Annual Reports of Federal Reserve System 13 items view description
A collection of Federal Reserve Bank annual reports, including the annual report of the Board of Governors. These reports contain information regarding the operations of the Federal Reserve Board and the banks during each year. The individual bank reports also include structure, functions and goals information.
Congressional Documents 431 items view description
Congressional hearings, reports and other publications from the House of Representatives, the Senate, and the Joint Economic Committee of the United States Congress.
Congressional Inquiries 7 items view description
Congressional Inquiries are an information gathering process done by committees for reviewing or making legislative policies. This collection houses documents related to finance and banking in the United States including early hearings before the Committees on Finance and Banking and Currency.
Monetary Policy Oversight Hearings (Humphrey - Hawkins) 2 items view description
Under the Full Employment and Balanced Growth Act of 1978 (also referred to as the Humphrey-Hawkins Act), the Federal Reserve must submit a report on the economy to Congress by February 20 and July 20 of each year. Following submission of the report, the chairman of the Federal Reserve Board is typically called to testify before the House and Senate committees charged with monetary policy oversight.
Nomination Hearings 24 items view description
Nomination hearings, conducted in the Senate, for Chairmen and Members of the Board of Governors of the Federal Reserve System, and other officials.
Data and Statistical Publications 186 items view description
Data publications, as well as statistical releases from several sources such as the Board of Governors of the Federal Reserve System, and government agencies such as the Bureau of Labor Statistics.
Depressions & Panics 68 items view description
General materials on economic depressions and panics, as well as specific collections related to the Great Depression and the Panic of 1907.
Banking Emergency of 1933 74 items view description
During February and early March, 1933, banks throughout the country were experiencing difficulties, and many were forced to either close or operate under restrictions. Two of the most notable actions taken in response to the situation were the national bank holiday, enacted on March 6, 1933, and the passage of the Emergency Banking Relief Act (also known as the Emergency Banking Act) on March 9, 1933. Banking Act of 1933 (also known as the Glass-Steagall Act) was passed later that year to establish the Federal Deposit Insurance Corporation, and introduce various banking reforms.
Great Depression 28 items view description
The Great Depression describes the period of economic downturn that took place from 1929 until about 1939. This period led to high unemployment rates, lowered stock values and reduced levels of demand for production materials. This collection includes Federal Reserve System documents from the Board of Governors released during this time period and other economic papers and speeches on the topic.
Panic of 1907 12 items view description
The Panic of 1907 was a financial crisis which occurred during a period of recession in the United States in 1907. The New York Stock Exchange dropped from the previous year causing panic nationwide and causing bankruptcies in state and local banks and businesses. At the time there was no central bank in the United States, and this event is believed to have led to the formation the Federal Reserve System.

Historical documents including data publications, hearings, and analyses of the Panic of 1907 are included in this collection. For more information regarding the Panic of 1907 see the Wikipedia page.
St. Louis Bureau for Men 4 items view description
The Bureau For Men, known also as the Bureau for Homeless Men, was organized as the first agency in the United States to provide social services to transient and homeless men. The Bureau's caseload grew immensely during the Great Depression. By late 1932, it provided social services to over 8000 transients.
Discount Window 27 items view description
Contains publications that discuss the use, effect, or possible changes to the mechanics of the Discount Window. The Discount Window is “a safety valve in relieving pressures in reserve markets” and serves as the regional Federal Reserve Bank’s lending facility for reserve funds. While open market operations is now the most important tool of monetary policy, the Discount Window still plays a complementary role to ensure the basic stability of the payment system. For more information on the Discount Window, go to the Federal Reserve’s Discount Window website.

For discussions of individual Discount Window actions, please check the minutes of the FOMC, Board of Governors, and the Open Market Investment Committee (OMIC) reports.
Employment/Unemployment 44 items view description
Hearings, speeches, data publications, and other documents relating to employment and unemployment.
Energy 26 items view description
Documents relating to energy consumption, legislation, crises and alternative energy sources.
Federal Reserve Collections 45 items view description
A wide variety of types of documents that relate to the history and function of the Federal Reserve System. Additional items can be found within the Related Topics below, and in our Special Collections.
On December 23, 1913, the Federal Reserve System, which serves as the nation's central bank, was created by an act of Congress. The System consists of a seven member Board of Governors with headquarters in Washington, D.C., and twelve Reserve Banks located in major cities throughout the United States.
Annual Reports of Federal Reserve Banks and Board of Governors 16 items view description
A collection of Federal Reserve Bank annual reports, including the annual report of the Board of Governors. These reports contain information regarding the operations of the Federal Reserve Board and the banks during each year. The individual bank reports also include structure, functions and goals information.
Board of Governors of the Federal Reserve System 37 items view description
The Board of Governors of the Federal Reserve System is the main governing body of the Federal Reserve System. It is charged with overseeing the 12 District Reserve Banks and with helping implement national monetary policy. Governors are appointed by the President of the United States and confirmed by the Senate for staggered, 14-year terms. Prior to the enactment of the Banking Act of 1935, the Board of Governors of the Federal Reserve System was known as the Federal Reserve Board.
Federal Reserve Statistical Releases 83 items view description
Since 1914, the Board of Governors of the Federal Reserve System has published statistical information on the U.S. economy and banking industry. This information has been published in various formats, usually referred to as "statistical releases." The Federal Reserve Board Statistical Release Publications History is available as a guide to the changes in release titles and numbers. Recent statistical releases are available at http://www.federalreserve.gov/econresdata/statisticsdata.htm.
Nominations of Federal Reserve Board Chairmen and Members 21 items view description
Nomination hearings, conducted in the Senate, for Chairmen and Members of the Board of Governors of the Federal Reserve System. Prior to the enactment of the Banking Act of 1935, the Board of Governors of the Federal Reserve System was known as the Federal Reserve Board and the chairman and vice chairman were known as governor and vice governor. A complete list of members 1914-present is available at http://www.federalreserve.gov/bios/boardmembership.htm.
Publications from the Board of Governors 100 items view description
Selected publications produced by the Board of Governors or its committees. For a complete list of publications and other documents authored by the Board of Governors of the Federal Reserve System, see http://fraser.stlouisfed.org/author/?aid=3
Public Statements of Members of the Board of Governors 73 items view description
These statements include speeches and congressional testimony given by various members of the Board of Governors of the Federal Reserve System. Most were issued as press releases by the Board of Governors. Some on-the-record interviews with news reporters are also included. However, responses to questions when providing testimony at congressional hearings are not included in these documents, as they were not prepared statements; the responses are included in the published hearings issued by Congress. These files do not include every on-the-record interview with reporters. Interviews were not consistently released as press releases by the Public Affairs office of the Board of Governors.

Prior to the enactment of the Banking Act of 1935, the Board of Governors of the Federal Reserve System was known as the Federal Reserve Board and the chairman and vice chairman were known as governor and vice governor. A complete list of members 1914-present is available at http://www.federalreserve.gov/aboutthefed/bios/board/boardmembership.htm.

See also Public Statements of the Chair of the Board of Governors.
Public Statements of the Chair of the Board of Governors 13 items view description
These statements include speeches and congressional testimony given by various chairmen (now chair) of the Board of Governors of the Federal Reserve System. Most were issued as press releases by the Board of Governors. Some on-the-record interviews with news reporters are also included. However, responses to questions when providing testimony at congressional hearings are not included in these documents, as they were not prepared statements; the responses are included in the published hearings issued by Congress. These files do not include every on-the-record interview with reporters. Interviews were not consistently released as press releases by the Public Affairs office of the Board of Governors.

Prior to the enactment of the Banking Act of 1935, the Board of Governors of the Federal Reserve System was known as the Federal Reserve Board and the chairman and vice chairman were known as governor and vice governor. A complete list of members 1914-present is available at http://www.federalreserve.gov/aboutthefed/bios/board/boardmembership.htm.

See also Public Statements of Members of the Board of Governors
Federal Open Market Committee 19 items view description
Documents relating to the FOMC. Researchers may also want to look at documents from the Shadow Open Market Committee and the Open Market Investment Committee. The Federal Open Market Committee (FOMC) consists of twelve members--the seven members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and four of the remaining eleven Reserve Bank presidents, who serve one-year terms on a rotating basis. The FOMC holds eight regularly scheduled meetings per year. At these meetings, the Committee reviews economic and financial conditions, determines the appropriate stance of monetary policy, and assesses the risks to its long-run goals of price stability and sustainable economic growth. Nonvoting Reserve Bank presidents attend the meetings of the Committee, participate in the discussions, and contribute to the Committee's assessment of the economy and policy options.
Statements and Speeches of Federal Open Market Committee Participants 92 items view description
The Federal Open Market Committee (FOMC) consists of twelve members - the seven members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and four of the remaining eleven Reserve Bank presidents, who serve one-year terms on a rotating basis. Nonvoting Reserve Bank presidents attend the meetings of the Committee, participate in the discussions, and contribute to the Committee's assessment of the economy and policy options.
Federal Reserve Act 85 items view description
The Federal Reserve Act was signed by President Woodrow Wilson on December 23, 1913. The Act created the Federal Reserve System in the United States.

The Act was presented by Rep. Carter Glass from Virginia on August 29, 1913 to the House of Representatives; it passed the House on September 18, 1913 by a vote of 287-85. After some discussions and amendments the Senate passed the Act on December 19, 1913 with a vote of 54-34. One day later the House voted to disagree and insert their own bill, submitting a conference report to the senate on December 22, 1913. The House agreed to the conference report with a vote of 298-60. On December 23, 1913, the Senate agrees to the report as well with a vote of 43-25.

Major Amendments to the Act have been made over the years regarding emergency advances to groups of member banks and individual member banks, the creation of the Federal Open Market Committee (FOMC), prohibition of participation by state member banks in lotteries, monetary policy objectives, pricing of services related to the Monetary Control Act, annual independent audits of the Federal Reserve Banks and Board, foreign banking business, and relations & restrictions with affiliates.

More information on the Federal Reserve Act can be found on the Board of Governors of the Federal Reserve System’s webpage.
Federal Reserve Bank of Atlanta 23 items view description
The Atlanta Fed territory covers the Sixth Federal Reserve District, which includes Alabama, Florida, and Georgia, and portions of Louisiana, Mississippi, and Tennessee. The Atlanta Fed has branch offices in Birmingham, Jacksonville, Miami, Nashville, and New Orleans.
Federal Reserve Bank of Boston 21 items view description
The Boston Fed, the First District of the Federal Reserve System, serves the New England region - Connecticut [except Fairfield County], Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont.
Federal Reserve Bank of Chicago 23 items view description
The Chicago Fed serves the Seventh Federal Reserve District, an economically diverse region that includes all of Iowa and most of Illinois, Indiana, Michigan and Wisconsin. The Chicago Fed has a head office in Chicago and a branch office in Detroit.
Federal Reserve Bank of Cleveland 11 items view description
The Federal Reserve Bank of Cleveland serves the Fourth Federal Reserve District, which comprises Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. The Federal Reserve Bank of Cleveland has branch offices in Cincinnati, Ohio, and Pittsburgh, Pennsylvania.
Public Statements of Presidents of the Federal Reserve Bank of Cleveland 7 items view description
These collections reflect a portion of the print holdings of the Federal Reserve System. They may not include all statements and speeches delivered by the Presidents, although effort has been made to provide a complete record.
Federal Reserve Bank of Dallas 23 items view description
As one of twelve regional Reserve Banks in the Federal Reserve System, the Dallas Fed serves the Eleventh Federal Reserve District, which consists of Texas, northern Louisiana and southern New Mexico. Branches are in El Paso, Houston, and San Antonio.
Federal Reserve Bank of Kansas City 22 items view description
The Federal Reserve Bank of Kansas City contributes to monetary policy, provides supervisory and regulatory oversight, and offers safe, reliable, and efficient financial services. As a regional connection to the U.S. Central Bank, the Kansas City Fed serves the Tenth Federal Reserve District, which includes western Missouri, Nebraska, Kansas, Oklahoma, Wyoming, Colorado and northern New Mexico.
Federal Reserve Bank of Minneapolis 31 items view description
The Minneapolis Fed, with one branch in Helena, Montana, serves the six states of the Ninth Federal Reserve District: Minnesota, Montana, North and South Dakota, the Upper Peninsula of Michigan and northwestern Wisconsin.
Public Statements of Presidents of the Federal Reserve Bank of Minneapolis 9 items view description
These collections reflect a portion of the print holdings of the Federal Reserve System. They may not include all statements and speeches delivered by the Presidents, although effort has been made to provide a complete record.
Federal Reserve Bank of New York 101 items view description
The New York Fed oversees the Second Federal Reserve District, which includes New York state, the 12 northern counties of New Jersey, Fairfield County in Connecticut, Puerto Rico and the U.S. Virgin Islands. In addition to responsibilities the New York Fed shares in common with the other Reserve Banks, the New York Fed has several unique responsibilities, including conducting open market operations, intervening in foreign exchange markets, and storing monetary gold for foreign central banks, governments and international agencies.
Historical Circulars of the Federal Reserve Bank of New York 1 items view description
Collection of historical circulars of the Federal Reserve Bank of New York. The circulars describe the New York Fed's history, evolution, and responses to historical events. They address topics key to the Bank's mission---community relations, bank services, and supervision and regulation---and describe the Bank's procedures, processes, and corporate culture since the inception of the Federal Reserve System.
Papers of Benjamin Strong, 1911-1928 1 items view description
Benjamin Strong, Jr. was elected first governor (president) of the Federal Reserve Bank of New York in 1914, a position which he held until his death in 1928. This collection provides material about the early years of the Federal Reserve System and Strong’s leading role in monetary and fiscal systems, both in the United States and internationally.
Federal Reserve Bank of Philadelphia 13 items view description
The Federal Reserve Bank of Philadelphia is responsible for the Third District, which covers eastern Pennsylvania, southern New Jersey, and Delaware.
Public Statements of Presidents of the Federal Reserve Bank of Philadelphia 1 items view description
These collections reflect a portion of the print holdings of the Federal Reserve System. They may not include all statements and speeches delivered by the Presidents, although effort has been made to provide a complete record.
Federal Reserve Bank of Richmond 32 items view description
The Richmond Fed is one of 12 Reserve Banks that, including the Board of Governors, encompasses the Federal Reserve System with offices located in Richmond, Baltimore and Charlotte. Our regions include Virginia, Maryland, the Carolinas, the District of Columbia and most of West Virginia.
Federal Reserve Bank of San Francisco 16 items view description
San Francisco is the headquarters of the Twelfth Federal Reserve District, which includes the nine western states—Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington—plus American Samoa, Guam, and the Commonwealth of the Northern Mariana Islands. Branch offices are located in Los Angeles, Portland, Salt Lake City, and Seattle, with a cash processing center in Phoenix.
Public Statements of Presidents of the Federal Reserve Bank of San Francisco 3 items view description
These collections reflect a portion of the print holdings of the Federal Reserve System. Additional speeches are available at http://www.frbsf.org/our-district/press/presidents-speeches/.
Federal Reserve Bank of St. Louis 71 items view description
The Eighth Federal Reserve District is headquartered in St. Louis and has branches in Little Rock, Ark., Louisville, Ky., and Memphis, Tenn. The District includes all of Arkansas and portions of six other states: Missouri, Mississippi, Tennessee, Kentucky, Indiana and Illinois.

For an overview of the Federal Reserve Bank of St. Louis' history, see the centennial collection featuring a timeline, publications, images, and other media that document the history of the Federal Reserve Bank of St. Louis throughout the last century.

Public Statements of Presidents of the Federal Reserve Bank of St. Louis 9 items view description
These collections reflect the print holdings of the Federal Reserve System. They may not include all statements and speeches delivered by the Presidents, although effort has been made to provide a complete record.
History of the Federal Reserve, Volumes 1 and 2 by Allan Meltzer - Citations and References 270 items view description
This collection provides access to source materials cited by the author, Dr. Allan H. Meltzer, in A History of the Federal Reserve, Volume 1: 1913-1951, and A History of the Federal Reserve, Volume 2: 1951-1986. Contents include previously unpublished materials in the form of memoranda and meeting transcripts, as well as journal articles, congressional hearings, working papers, and books no longer under copyright.

Where we have not been able to reproduce a referenced text because of copyright restrictions or availability, we have tried to provide links to the material in licensed databases or other Internet resources, such as WorldCat, in the complete bibliography.
Humphrey-Hawkins (Monetary Policy Oversight) Hearings 4 items view description
Under the Full Employment and Balanced Growth Act of 1978 (also referred to as the Humphrey-Hawkins Act), the Federal Reserve must submit a report on the economy to Congress by February 20 and July 20 of each year. Following submission of the report, the chairman of the Federal Reserve Board is typically called to testify before the House committee, or subcommittee, charged with monetary policy oversight.
Open Market Investment Committee and Open Market Policy Conference 116 items view description
The Open Market Investment Committee (1923-1930) and Open Market Policy Conference (1930-1933) were the predecessors to the Federal Open Market Committee. These groups, comprised of governors of the Reserve Banks under the general supervision of the Federal Reserve Board, were responsible for determining System open market policy.
Reserve Bank Organization Committee 178 items view description
The Reserve Bank Organization Committee was established by the Federal Reserve Act (38 Stat. 251), December 23, 1913. It was composed of the Secretary of the Treasury, the Secretary of Agriculture, and the Comptroller of the Currency. The RBOC designated the federal reserve cities, divided the United States into federal reserve districts, supervised the organization of federal reserve banks, and prescribed regulations for the acceptance of the Federal Reserve Act by all national banking associations and participating banks. It was discontinued after May 1914.
Reserve Bank Organization Committee Hearings 19 items view description
After the passage of the Federal Reserve Act, hearings were held before the Reserve Bank Organization Committee in cities across the United States in early 1914 to allow citizens to present their cases for the locations of the district banks of the Federal Reserve System.
Government Debt 36 items view description
Government debt is the debt owed by the United States government, and is money borrowed through government securities and federal government agencies. U.S. public debt comes from debt held by the public and debt held by government accounts. This debt has a limit on the total amount of bonds that can be issued, known as the debt ceiling.

Documents on debt ceiling increases can be found in this collection as can speeches and hearings on or referring to the federal government debt. Economic reports of the president can also be found in this collection, which is an annual report written by the Chairman of the Council of Economic Advisers.
Government Securities Market 29 items view description
Government securities consist of debts issued by the government to finance its borrowings that are issued by the United States Department of the Treasury. The four types of marketable treasury securities include bills, notes, bonds and Treasury Inflation Protected Securities (TIPS).

The difference between the four marketable treasury securities lies in their length of maturity. Treasury bills mature anywhere from a few days to 52 weeks and are sold discounted from their face value. Treasury notes are issued for a longer term, 2, 3, 5, 7 or 10 years and pay interest every six months. Treasury bonds mature for the longest amount of time, 30 years, and also pay interest every six months, while TIPS have principal which adjusts based on changes in the Consumer Price Index (CPI). TIPS also pay interest every six months and can be issued to mature in 5, 10 or 30 years.

This collection holds speeches, studies, data and other historical documents relating to the U.S. government securities market.
Housing 24 items view description
A collection of speeches, hearings, and reports on housing and mortgages.

Over 400 additional documents can be found in boxes 27-29 of the Marriner S. Eccles Document Collection.
Home Owners' Loan Corporation 11 items view description
Documents related to the Federal Home Loan Bank Act of 1932. The Home Owners' Loan Corporation (HOLC) was a New Deal agency established in 1933 by the Home Owners' Refinancing Act. Its purpose was to enable homeowners hurt by the Depression to avoid foreclosure by providing government supported refinancing. It was only applicable to nonfarm homes, but it also assisted mortgage-holding banks. The HOLC stopped lending in 1936 and ended its operations in the 1960s.
Inflation 26 items view description
According to Merriam-Webster, inflation is a “continuing rise in the general price level usually attributed to an increase in the volume of money and credit relative to available goods and services.” This collection holds historical documents relating to inflation in the United States including statements and speeches from the Federal Reserve Board of Governors and congressional hearings.
International Economics 17 items view description
This topic includes reports on international trade, finance, and economics.
Bretton Woods Agreement 24 items view description
The Bretton Woods Agreement was created in July of 1944 during the United Nations Monetary and Financial Conference in Bretton Woods, New Hampshire. The agreement established the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD) – now the World Bank. The agreement united the United States, the United Kingdom and 44 other nations in the aftermath of World War II, to set-up an international monetary system which would govern monetary cooperation. Eventually the system also regulated currency values and was disbanded in the 1970s when the United States ended convertibility of the dollar into gold.

Edited transcripts of the meetings are available from the Center for Financial Stability.

This collection includes documents relating to the Bretton Woods meetings, legislation, and analysis of the results.
Monetary Policy 43 items view description
Monetary policies are “actions undertaken by a central bank…to influence the availability and cost of money and credit to help promote national economic goals.” In the United States, the Federal Reserve sets monetary policy through two groups, the Board of Governors of the Federal Reserve System and the Federal Open Market Committee (FOMC). The Board of Governors handles discount rate and reserve requirements, while the FOMC handles open market operations. The responsibility to set monetary policy was given to the Federal Reserve by the Federal Reserve Act of 1913.

This collection features many congressional hearings documents related to monetary policy. For more information regarding this topic, the FOMC and the role of the Federal Reserve, please see the Board of Governors of the Federal Reserve System’s website.
National Income and Product Accounts 5 items view description
National income and product accounts are used to estimate the total economic activity in a country by estimating the market value of goods and services produced in a country over a specified period of time. National income statistics were developed to provide governments, economists, and policymakers more accurate information about the growth of an economy.
Treasury-Federal Reserve Accord 70 items view description
The Accord entered into by the Federal Reserve and U.S. Treasury Department and announced to the public on March 4, 1951 was an important milestone in Federal Reserve history. During World War II and for several years thereafter, the Fed agreed to assist the Treasury in financing government expenditures by using its monetary policy to maintain low yields on Treasury securities. However, rising inflation and a recognition that monetary policy was most appropriately directed toward macroeconomic stability led to the Accord, which stated that "The Treasury and the Federal Reserve System have reached full accord with respect to debt-management and monetary policies to be pursued in furthering their common purpose to assure the successful financing of the Government's requirements and, at the same time, to minimize monetization of the public debt" (Federal Reserve Bulletin, March 1951, p. 267). The Accord was seen as a step forward in Fed independence.
War Finance 26 items view description
Includes documents related to:

War Finance Corporation Act - signed into effect on April 5, 1918, which authorized the Capital Issues Committee (CIC) to review submissions for new securities issues. The committee was made up of seven members - three of which were Federal Reserve Board members and it functioned to determine if securities issues were compatible with the national interest. Over about eight months, the CIC reviewed over 2,000 applications for new securities offerings valued at over $3.7billion and was suspended with the completion of the war. The CIC was the precursor to the Securities and Exchange Commission (SEC).

Liberty Loans – Liberty Loans were issued in four stages by the United States during World War I, with a fifth being issued after the war called a Victory Liberty Loan. With administration of the loans handled by the Federal Reserve, around 20 million individuals bought Liberty Loans during the War and the money borrowed through the loans was over $18 billion.

Other war finance activities.
Women 42 items view description
A collection of historical documents chronicling the role of women in the nation’s economy and labor force, with statistical reports and other documents coming from sources such as the Census Bureau, the Supreme Court, the U.S. Commission on Civil Rights and the Women’s Bureau.