Irving Fisher anticipates the modern day Fed

42. If the debt-deflation theory of great depressions is essentially correct, the question of controlling the price level assumes a new importance; and those in the drivers' seats—the Federal Reserve Board and the Secretary of the Treasury, or, let us hope, a special stabilization commission—will in future be held to a new accountability.

~ Irving Fisher, "The Debt-Deflation Theory of Great Depressions," September 1933