Finance

The Federal Reserve: The Comic Book

The Federal Reserve has been getting sucked into the political fray lately. President Obama defended the Fed on his Asia trip last week; a group of economists (most of them affiliated with Republican policies) will run ads attacking the Fed this week.

That's not where the Fed likes to be. In fact, if the Fed created a comic book, it might cast itself as a superhero who needs to be "free of short term political pressure" (and has awesome abs).

Oh, right: The Fed already did that.

That's a panel from "The Story of Monetary Policy," a comic book the New York Fed released a few years back. (If you wanted to update the panel for the current economic moment, you could substitute "deflation" for "inflation.")

The book is one in a series from the Fed; other titles include "The Story of Banks," "The Story of Foreign Trade and Exchange," and, perhaps inevitably, "The Story of the Federal Reserve System."

As the NYT's Economix blog notes today, there's a long history of using comics to present economic ideas from across the political spectrum.

For example, this illustrated version of Hayek's The Road to Serfdom was distributed way back in 1945 by (who else?) General Motors.

Road to Serfdom
via NYT

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