Mises Wire
Author:
Jeffrey A. Tucker
Online Publish Date:
The rate cut today is a good reminder that the Fed can’t always get its way. It is usually assumed that the trouble with the Fed in 1930 was that it failed to attempt to expand money and credit. In fact, Bernanke himself has made this argument and sworn it will never happen again. Rothbard, in America’s Great Depression, makes the opposite case: