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# Spring/​Summer 2019 

Vol. 39 No. 2 

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## Monetary Policy 10 Years after the Crisis 

##### Articles 

#### [Editor’s Note ](/cato-journal/spring/summer-2019/editors-note)

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

#### [Monetary and Fiscal Headwinds to Sustaining the Recovery ](/cato-journal/spring/summer-2019/monetary-fiscal-headwinds-sustaining-recovery)

By Phil Gramm, Thomas R. Saving, and Michael Solon 

#### [On Money, Debt, Trust, and Central Banking ](/cato-journal/spring/summer-2019/money-debt-trust-central-banking)

By Claudio Borio 

#### [The Fed’s Operating Framework: How Does It Work and How Will It Change? ](/cato-journal/spring/summer-2019/feds-operating-framework-how-does-it-work-how-will-it-change)

By Stephen D. Williamson 

#### [The Fed’s New Operating Framework: How We Got Here and Why We Shouldn’t Stay ](/cato-journal/spring/summer-2019/feds-new-operating-framework-how-we-got-here-why-we-shouldnt-stay)

By [George Selgin](https://www.cato.org/people/george-selgin) 

#### [Interest on Reserves: History and Rationale, Complications and Risks ](/cato-journal/spring/summer-2019/interest-reserves-history-rationale-complications-risks)

By Peter Ireland 

#### [Assessing Global Financial Stability ](/cato-journal/spring/summer-2019/assessing-global-financial-stability)

By Tobias Adrian 

#### [An Unconventional Assessment of Unconventional Monetary Policy ](/cato-journal/spring/summer-2019/unconventional-assessment-unconventional-monetary-policy)

By Vincent R. Reinhart 

#### [Political Economy of the Fed’s Unconventional Monetary and Credit Policies ](/cato-journal/spring/summer-2019/political-economy-feds-unconventional-monetary-credit-policies)

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

#### [Improving the Monetary Regime: The Case for U.S. Digital Cash ](/cato-journal/spring/summer-2019/improving-monetary-regime-case-us-digital-cash)

By Michael D. Bordo and Andrew T. Levin 

#### [What Have We Learned about Central Bank Balance Sheets and Monetary Policy? ](/cato-journal/spring/summer-2019/what-have-we-learned-about-central-bank-balance-sheets-monetary)

By Joseph E. Gagnon 

#### [The Financial Stability Case for a Nominal GDP Target ](/cato-journal/spring/summer-2019/financial-stability-case-nominal-gdp-target)

By [David Beckworth](https://www.cato.org/people/david-beckworth) 

#### [Ten Lessons from the Economic Crisis of 2008 ](/cato-journal/spring/summer-2019/ten-lessons-economic-crisis-2008)

By Scott Sumner 

#### [Should the Fed Be Constrained? ](/cato-journal/spring/summer-2019/should-fed-be-constrained)

By Jeffrey Frankel 

##### Book Reviews 

##### [*Holding Bankers to Account: A Decade of Market Manipulation, Regulatory Failures and Regulatory Reforms* by Oonagh McDonald](/cato-journal/spring/summer-2019/holding-bankers-account-decade-market-manipulation-regulatory)

By [Diego Zuluaga](https://www.cato.org/people/diego-zuluaga) 

##### [*The Future of Capitalism: Facing the New Anxieties* by Paul Collier](/cato-journal/spring/summer-2019/future-capitalism-facing-new-anxieties-paul-collier)

By Thomas A. Hemphill 

##### [*Democracy and Truth: A Short History* by Sophia Rosenfeld](/cato-journal/spring/summer-2019/democracy-truth-short-history-sophia-rosenfeld)

By Michael B. Levy 

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