09 November 2016

Strained relations

US foreign exchange operations and monetary policy in the twentieth century

Michael D Bordo, Owen F Humpage and Anna J Schwartz, National Bureau of Economic
2015, University of Chicago Press, 496 pages,
ISBN 9780226051482

Reviewer: William A Allen, Economic & Financial Consultant

I begin this review by declaring a personal interest. I was the head of the Bank of England foreign exchange division from 1990-94, and in that capacity responsible for conducting extensive foreign exchange operations. So I know something about the subject, but I may have unconscious prejudices.

The book under review was begun as long ago as 1990, and one of the distinguished authors,…

Members can view the full content.