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Why is the Federal Reserve System so powerful and autonomous? The autonomy of the central bank in the United States is the joint product of strategic choices made by decision makers in the Fed and choices made by members of Congress. Fed decision makers update administrative procedure in ways that frustrate representative control of monetary policy. Members of Congress tolerate experimentation with procedures and rules because Fed independence creates an obstacle for presidents interested in controlling macroeconomic outcomes for electoral or partisan gain. Central bank autonomy is not a serious threat for members of Congress, as they independently develop a number of federal credit programs to counteract the consequences of monetary policy choices for particular sectors of the economy (notably, home construction and small business enterprise). The transformation of the Federal Reserve System reveals how gradual and incremental institutional changes can affect the strategies of political actors and policy outcomes. This finding challenges the dominant description of institutional change that has informed applied work on political institutions in both international relations and American politics. Conventional descriptions emphasize long periods of institutional stability punctuated by short periods of rapid change. Institutional change at the Fed is a gradual and continuous process. Incremental changes in monetary policy institutions (reserve requirements, open market rules, selective credit regulations) reveal the rich variety of strategic options for bureaucrats who desire autonomy from elected officials and the real effects of changing policy institutions on macroeconomic andcapital market outcomes.

Writings on American craft and poetry. A Useful Art is an invaluable chronicle of a major American poet's engagement with this country's indigenous tradition of design. In 1936, the Federal Arts Project (a division of the WPA) hired Louis Zukofsky, along with many others, to prepare a compendium of information on traditional American crafts. The Index of American Design aimed to define original U.S. culture at a time when interest in handicrafts had just begun to emerge. These previously unpublished essays and radio scripts are scrupulously researched investigations of various American handicrafts: the topics they cover include ironwork, tin ware, furniture maker Duncan Phyfe and friendship quilts. They also reflect Zukofsky's sense of the poem as a crafted object and his attempt to reconcile the labor theory of value with aesthetic production. This book, which can be seen in the context of kindred work by William Carlos Williams (In the American Grain) and Ezra Pound (Guide to Kulchur), will be of special interest to readers of 20th-century poetry, cultural critics, social historians, and scholars of design.

American Federation of Government Employees - The American Federation of Government Employees is an American labor union representing over 600,000 employees of the federal government. (State and municipal employees are represented by other unions, most notably the American Federation of State, County and Municipal Employees (AFSCME) and the Service Employees International Union (SEIU).

American Wrestling Federation - The American Wrestling Federation, or AWF, was a national professional wrestling federation founded by Paul Alperstein.

American Checker Federation - The American Checker Federation has a website at usacheckers.com which has a history of American checkers, and lists several of the more famous checker players.

American Federation of Labor - The American Federation of Labor (AFL) was one of the first federations of labor unions in the United States. It was founded in Columbus, Ohio in 1886 by Samuel Gompers as a reorganization of its predecessor, the Federation of Organized Trades and Labor Unions.

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