Marriner Eccles memoir (thx to @KalebNygaard) 1/x

on his conversion into an activist for government intervention 2/x

"The honeymoon ended and the wrangling began soon after this cycle was checked and the New Deal at last turned its attention toward the problems of debtor relief."

deep cuts Marriner -- talking about FDR 4/x

funny "With the exception of Ezekiel and Tugwell, I doubt whether any of the men in my room had ever heard of John Maynard Keynes...Moreover, I have never read Keynes’s writings except in small extracts up to this day." 5/x

according to Eccles memoir, the Banking Act of 1935 - which created the modern Fed - was rushed forward so the reserve banks wouldn't have the power to counter FDR's federal (work-relief) spending. 6/x

making fun of deficit-hating investors 7/x

not a fan of the WPA-- "the restriction on work aids of people on WPA ran counter to our whole tradition of efficiency in production... I argued that as fast as possible the Government should undertake on a contract basis billions of dollars' worth of public works" 8/x

picking Fed nominees -- or "how FDR got Eccles as Chair"

old->new "I restated my conception of inflation; distinguished between it and a stock-market inflation...denied the charge that the Reserve Board was indifferent to the presence of 'unsound conditions' in the stock market, but...limited powers to deal with events in that quarter”