Challenging the Status Quo: The Cato Institute’s Center for Monetary and Financial Alternatives
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When the Federal Reserve was founded in 1913, it was with the purpose of providing for a stable monetary and financial system. However, the Great Depression, the Great Inflation, and the Panic of 2008 serve as serious reminders of the Fed’s failure to achieve its original mission. Yet, despite this record, the Fed’s regulation of the economy has expanded. After a century, it is time to judge the Federal Reserve’s history and evaluate alternatives to central banking. To that end, the Cato Institute has established the Center for Monetary and Financial Alternatives, which will focus on the development of policy recommendations that will create a more free‐market monetary system in the United States. Please join Cato’s scholars for a discussion on how the Cato Institute’s new center seeks to educate the public and elected officials on the need for a monetary system that is consistent with the rule of law and genuine competition.