Cooperation of our Federal reserve system and our banks with the central banks in foreign countries has contributed to localize and ameliorate a number of serious financial crises or moderate the pressures upon us and thus avert disasters which would have affected us.
Herbert Hoover: “Cooperation of our Federal reserve system and our banks with the central banks in foreign countries has contributed to…”
Editor's note · Context
This statement highlights the collaboration between the U.S. Federal Reserve and foreign banks to mitigate financial crises.
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