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Benjamin Strong, Jr. (1872 - 1928) served as Governor of the Federal Reserve
Bank of New York for 14 years until his death. Benjamin Strong exerted great
influence over the policy and actions of the entire
Federal Reserve System. His policy of maintaining
price levels during the 1920s through the open market purchase of securities,
and his willingness to maintain the liquidity of banks during panics, have been
praised by monetarists.
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