SOURCE: Vision Media

December 23, 2008 02:56 ET

Current Events and Politics: Can the Fed Deliver Fiscal Fitness? --

The United States Federal Reserve System Turns 95 and the Vitality of This Influential Financial Institution Is Examined by

PASADENA, CA--(Marketwire - December 23, 2008) - In current events and politics, the Federal Reserve Act turns 95 a few days before Christmas, and it has never been more active and visible in the global financial market. But many would say that central banking only masks capital cycles, leaving them vulnerable to all the shortcomings in the human psyche: greed, fear, and self-interest. In a recently published article titled, "America's Central Bank: Fiscally Fit at 95?" traces the evolutionary history of the Fed and asks if it has the strength, stamina and skill to tackle today's multifaceted money morass.

From the secret meeting of central bank advocates in 1910 that eventually led to its charter by the Federal Reserve Act signed by Woodrow Wilson on December 23, 1913, the Fed has faced many crises and critics. Nonetheless, celebrating a 95th birthday is an amazing accomplishment. Such a special event causes observers to admire the longevity of the celebrant's performance and achievements, while simultaneously wondering how long he/she can continue to function effectively. As the United States Federal Reserve System turns 95, the vitality of this influential financial institution charged with administering America's monetary policy is closely investigated.

Does this well-aged institution still possess the vim and vigor to grapple with the fiscal challenges of the 21st century? Or is it showing signs of depository dementia, -- diminished capacity to contend with and control financial crises? writer Steven Orchard explains that the current crisis in credit markets has brought the Fed face to face once again with the dreaded foe of economic downturn. The U.S. central bank has entered the ring with aggressive attempts to fight off recession and stimulate the U.S. economy. However, the recent actions of the Fed appear defensive and even desperate with consequences yet to be determined. The stakes are high and the world is watching.

Are the traditional tools of the Fed strong enough to stabilize fiscal functions? Will lowering rates and increasing the money supply overcome the obstacles to recovery? Or are the Feds options outdated and obsolete?

Now that the Federal Reserve has set interest rates at or near 0% what else can it do to ensure a vibrant economy? Has the Federal Reserve System exhausted itself? Are new training methods and techniques needed for battling the financial fiends of the future? In "America's Central Bank: Fiscally Fit at 95?" attempts to examine the extraordinary efforts of the Federal Reserve System to flex its considerable muscle in the ongoing fight against fear, greed, excess and exploitation.

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