Finance Professor Premieres Film about Federal Reserve

Finance professor Murray Sabrin premiered his documentary, “Federal Reserve: 100 Years of Boom and Bust,” in Friends Hall Wednesday night. The film examines the law that significantly reformed financial operations in the U.S. and will celebrate its centennial on Dec. 23.

“Federal Reserve: 100 Years of Boom and Bust” discusses the events leading up to the creation of the Federal Reserve and how it has affected the economy in the past century. A question and answer session followed the screening.

Sabrin wrote and produced the film with the help of two grants, one from the Ramapo College Foundation.

“Professor Sabrin has lectured and written about the Federal Reserve for 30 years,” according to a press release from the College. “The documentary includes commentary from numerous experts in finance and economics, authors and professors from universities such as NYU and Ramapo College.”

Ramapo faculty featured in the film include Constance Crawford, professor of accounting, and Alexandre Olbrecht, associate professor of economics, along with other scholars.

President Woodrow Wilson signed the Federal Reserve Act into law on December 23, 1913, creating a central banking system “to maintain the power of the dollar and end or smooth out the cycle of boom and bust,” the press release continued.

Since the act was made a law, it has been extremely controversial, leading some to call for its repeal.