Today the Federal Reserve System is much different than a century ago. How well has the Fed performed? Was the Fed a good idea? Can we do better? To address those and related questions, the Cato Institute brought together some of the most respected monetary scholars and policymakers at its Annual Monetary Conference in November 2013. The papers from that conference are featured in this volume.

A look back on an earlier scandal when the IRS was used to harass White House critics.