Hybrid Event, live streamed through https://harvard.zoom.us/j/93448881086
Wednesday, November 15, 4:00–5:30 p.m. ET
Will Bateman (Australian National University, College of Law)
Contra the conventional view, this talk argues that the US central bank has always had an extensive fiscal role: building, smoothing and rescuing US Treasury debt markets. The Fed’s fiscal functions are explored with a particular focus on operations during the World Wars, the Great Depression, the Cold War, the Global Financial Crisis and the COVID-19 Pandemic. A deeper understanding of the Fed’s fiscal functions has implications for the constitutional design of economic institutions and legal-theoretic accounts of the financial system.
Presented by the Program on Law and Political Economy at Harvard Law School.
Paper: https://papers.ssrn.com/sol3/
For more information, please visit the Program on Law and Political Economy at Harvard Law School’s webpage.