In the Indian context, this ratio has increased eight fold over last four decades, from 14 per cent in 1972 to well over 100 per cent now. These statistics clearly reflect the country’s growing trade and financial integration with the rest of the world.
Beyond the insights that the study of the Federal Reserve’s first 100 years offer to economists, historians, and policymakers about how the Fed can best meet its objectives today and in the future, a second reason to mark the centennial is the opportunity it affords to educate young people about the Federal Reserve and its important role in promoting a healthy economy and stable financial system.