![Media Name: cato-journal-v27n2.jpg](/sites/cato.org/files/styles/serial_cover_phone/public/serials/covers/cato-journal/cato-journal-v27n2.jpg?itok=lAhW01MS) 

# Spring/​Summer 2007 

Vol. 27 No. 2 

Federal Reserve Policy in the Face of Crises

##### Articles 

#### [Editor’s Note ](/cato-journal/spring/summer-2007/editors-note)

By [James A. Dorn](https://www.cato.org/people/james-dorn) 

#### [Remembering Milton Friedman ](/cato-journal/spring/summer-2007/remembering-milton-friedman)

By Anna. J. Schwartz 

#### [Milton Friedman: Perspectives, Particularly on Monetary Policy ](/cato-journal/spring/summer-2007/milton-friedman-perspectives-particularly-monetary-policy)

By Robert J. Barro 

#### [The Conquest of Worldwide Inflation: Currency Competition and Its Implications for Interest Rates and the Yield Curve ](/cato-journal/spring/summer-2007/conquest-worldwide-inflation-currency-competition-its-implications)

By Randall S. Kroszner 

#### [Responding to Financial Crises: What Role for the Fed? ](/cato-journal/spring/summer-2007/responding-financial-crises-what-role-fed)

By [William Poole](https://www.cato.org/people/william-poole) 

#### [The Role of Monetary Policy in the Face of Crises ](/cato-journal/spring/summer-2007/role-monetary-policy-face-crises)

By Anna. J. Schwartz 

#### [Responding to Crises ](/cato-journal/spring/summer-2007/responding-crises)

By Jeffrey Frankel 

#### [The Benefits and Risks of Financial Globalization ](/cato-journal/spring/summer-2007/benefits-risks-financial-globalization)

By Peter B. Kenen 

#### [The Welfare Implications of Global Financial Flows ](/cato-journal/spring/summer-2007/welfare-implications-global-financial-flows)

#### [Global Imbalances: A Source of Strength or Weakness? ](/cato-journal/spring/summer-2007/global-imbalances-source-strength-or-weakness)

By Kristin J. Forbes 

#### [Monetary Policy and the Growing Fiscal Imbalance ](/cato-journal/spring/summer-2007/monetary-policy-growing-fiscal-imbalance)

By David Malpass 

#### [The Fed and an Uncertain Fiscal Future ](/cato-journal/spring/summer-2007/fed-uncertain-fiscal-future)

By Douglas Holtz-Eakin 

#### [Is the Fed Facilitating an Unpleasant Fiscal Arithmetic? ](/cato-journal/spring/summer-2007/fed-facilitating-unpleasant-fiscal-arithmetic)

By [Jagadeesh Gokhale](https://www.cato.org/people/jagadeesh-gokhale) 

#### [Inflation Targeting for the United States? ](/cato-journal/spring/summer-2007/inflation-targeting-united-states)

By Bennett T. McCallum 

#### [The Case for Inflation Targeting ](/cato-journal/spring/summer-2007/case-inflation-targeting)

By Robert L. Hetzel 

#### [What Type of Inflation Target? ](/cato-journal/spring/summer-2007/what-type-inflation-target)

By [Lawrence H. White](https://www.cato.org/people/lawrence-white) 

##### Book Review 

##### [*What Democracy Is For: On Freedom and Moral Government* by Stein Ringen](/cato-journal/spring/summer-2007/what-democracy-freedom-moral-government-stein-ringen)

By [John Samples](https://www.cato.org/people/john-samples) 

##### [*Consumed: How Markets Corrupt Children, Infantilize Adults, and Swallow Citizens Whole* by Benjamin R. Barber](/cato-journal/spring/summer-2007/consumed-how-markets-corrupt-children-infantilize-adults-swallow)

By [Will Wilkinson](https://www.cato.org/people/will-wilkinson) 

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