Central Banking

Speech by Laurence Meyer of the Federal Reserve

SPEECH - Remarks by Governor Laurence H. Meyer of the Federal Reserve Board at the Distinguished Lecture Program, Swarthmore College, Swarthmore, Pennsylvania, 5 December.

The Future of Money and of Monetary Policy

Money and the payment system have evolved over time. The earliest forms of money were commodities, such as cattle and grain, that came to be used as means of payment and stores of value, two properties that effectively define money. Over time, precious metals, specifically silver and

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