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“The Federal Reserve…is in the position of the chaperone who has ordered the punch bowl removed just when the party was really warming up.” —Former Fed Chair William McChesney Martin Jr., born in St. Louis.

We recently updated our website, and we’re working hard to fix anything that may have been removed, relocated or permanently archived in our FRASER® digital library, where you can read about the punch bowl metaphor and so much more.

Meanwhile:

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