The Treasury-Federal Reserve Accord
Clip: 1/12/2021 | 2m 25sVideo has Closed Captions
The Treasury–Fed Accord of 1951 created the modern Federal Reserve as it exists today.
In modern history, the U.S. Treasury and the Federal Reserve have operated as fully separate institutions — the Treasury manages the nation’s debt, while the Fed sets monetary policy — but this was not always the case. Throughout the 1940s, the Fed had worked with the Treasury to help finance the war effort, but by the 1950s, it was time for this arrangement to come to an end.
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Marriner Eccles: Father of the Modern Federal Reserve is a local public television program presented by PBS Utah
Funding provided by the Lawrence T. & Janet T. Dee Foundation, and by Vincent P. and Janet Mancini.
The Treasury-Federal Reserve Accord
Clip: 1/12/2021 | 2m 25sVideo has Closed Captions
In modern history, the U.S. Treasury and the Federal Reserve have operated as fully separate institutions — the Treasury manages the nation’s debt, while the Fed sets monetary policy — but this was not always the case. Throughout the 1940s, the Fed had worked with the Treasury to help finance the war effort, but by the 1950s, it was time for this arrangement to come to an end.
Problems playing video? | Closed Captioning Feedback
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Marriner Eccles: Father of the Modern Federal Reserve is a local public television program presented by PBS Utah
Funding provided by the Lawrence T. & Janet T. Dee Foundation, and by Vincent P. and Janet Mancini.