Does the Fed repeated the mistakes of 1936-1937?

Perhaps the time was ripe to ask how this major expansion of the monetary base in the U.S., which has continued for more than five years , will end. The story of the last great American currency experiment called friends for ears name " quantitative easing " , dates from the period 1934-1937 , as opposed to the beginning , the end , however, it is not particularly pleasant .

In the fall of 1937 , the largest stock market in the world - one in New York, crashes , aided by the advent of the U.S. economy in the notorious Ruzveltska recession. Devising his major work " A Monetary History of the United States, 1867-1960 ," economists Anna Schwartz and Milton Friedman are many defects in attempted then state intervention in the market. Years later, the Federal Reserve openly admits his mistakes , saying he had learned his lesson. Obviously , however, this is not true , says expert analysis from Mises Institute Brandon Brown.