Former Federal Reserve Vice Chairman Richard Clarida speaks during the The Museum of American Finance Gala at the Ziegfeld Ballroom in New York City March 7, 2024. — Reuters picNEW YORK, March 10 — Financial industry heavyweights convened in New York last week to raise funds for a finance museum that has lost its iconic Wall Street address.
At the gala, guests dined on burrata and braised beef short rib. They murmured in appreciation when a bond for the Louisiana purchase — which doubled the size of the US — was projected onto the jumbo screens. A reference to President Ronald Reagan got a smattering of applause. “The Fed acted decisively and expansively in the spring of that year to prevent what could well have spiralled downwards into an economic depression and financial crisis,” he said. “The Fed’s nimble and creative response to the pandemic collapse represents the Fed at its best.”
Since then, its objects and documents have had a long journey. In 2018, they were displaced when a burst pipe damaged the museum’s three floors, including its grand exhibition hall. Last summer, the collection was loaded into a tractor trailer and transported from Queens to the Georgia archive.
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