This morning, I'd like to spend some time reviewing the Federal Reserve's response to the financial crisis of the past 18 months, as well as the current challenges – and opportunities – facing community banks. In addition, I'll discuss two important steps that policymakers can and should take to improve the financial regulatory system that likely are of particular interest to you.
By the early 1690s, soon after it had been introduced, excessive issuance of card money led to rising prices (or, from another point of view, to diminishing the value of money).