Inside The Fed Revised Edition
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Inside The Fed Revised Edition
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Author : Stephen H. Axilrod
language : en
Publisher: MIT Press
Release Date : 2011-02-18
Inside The Fed Revised Edition written by Stephen H. Axilrod and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-02-18 with Business & Economics categories.
An insider's account of the workings of the Federal Reserve, thoroughly updated to encompass the Fed's action (and inaction) during the recent financial meltdown. Stephen Axilrod is the ultimate Federal Reserve insider. He worked at the Fed's Board of Governors for more than thirty years and after that in private markets and as a consultant on monetary policy. With Inside the Fed, he offers his unique perspective on the inner workings of the Federal Reserve System during the last fifty years. This new, post-financial meltdown edition offers his assessment of the Fed's action (and inaction) during the crisis and expanded coverage of the Fed in the Bernanke era. Great leadership in monetary policy, Axilrod says, is determined not by pure economic sophistication but by the ability to push through political and social barriers to achieve a paradigm shift in policy—and by the courage and bureaucratic moxie to pull it off.
Inside The Fed
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Author : Stephen H. Axilrod
language : en
Publisher: MIT Press
Release Date : 2009
Inside The Fed written by Stephen H. Axilrod and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business & Economics categories.
The ultimate Federal Reserve insider offers insights into the inner workings of the Fed over the past fifty years. Stephen Axilrod is the ultimate Federal Reserve insider. He worked at the Fed's Board of Governors for over thirty years and after that in private markets and as a consultant on monetary policy. With Inside the Fed, he offers his unique perspective on the inner workings of the Federal Reserve System during the last fifty years—writing about personalities as much as policy—based on his knowledge and observations of every Fed chairman since 1951. Axilrod's discussion focuses on how the personalities of the various chairmen affected their capacity for leadership. He describes, for example, Arthur Burns's response to political pressure from the Nixon White House and Paul Volcker's radical shift to an anti-inflationary policy at the end of the 1970s—a transition in which Axilrod himself played a crucial role. As for the Greenspan years, Axilrod points to the unintended effects of the Fed's newfound "garrulousness" (the plethora of announcements and hints about policy intentions)—one of which was the Fed's loss of credibility in the aftermath of the chairman's 1996 comment about "irrational exuberance." And Axilrod incisively outlines the problems—including the subprime mess—inherited from Greenspan by the current chairman, Ben Bernanke. Great leadership in monetary policy, Axilrod says, is determined not by pure economic sophistication but by the ability to push through political and social barriers to achieve a paradigm shift in policy—and by the courage and bureaucratic moxie to pull it off.
The Fed
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Author : Martin Mayer
language : en
Publisher: Simon and Schuster
Release Date : 2001
The Fed written by Martin Mayer and has been published by Simon and Schuster this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Biography & Autobiography categories.
Why did Greenspan make the key decision of the Clinton boom years - to let the good times roll while unemployment sank to record lows - despite all historical evidence that it would be inflationary?"--BOOK JACKET.
A Term At The Fed
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Author : Laurence H. Meyer
language : en
Publisher: Harper Collins
Release Date : 2009-10-13
A Term At The Fed written by Laurence H. Meyer and has been published by Harper Collins this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-10-13 with Business & Economics categories.
As a governor of the Federal Reserve Board from 1996 to 2002, Laurence H. Meyer helped make the economic policies that steered the United States through some of the wildest and most tumultuous times in its recent history. Now, in A Term at the Fed, Governor Meyer provides an insider's view of the Fed, the decisions that affected both the U.S. and world economies, and the challenges inherent in using monetary policy to guide the economy. When Governor Meyer was appointed by President Clinton to serve on the Federal Reserve Board of Governors in 1996, the United States was entering one of the most prosperous periods in its history. It was the time of "irrational exuberance" and the fabled New Economy. Soon, however, the economy was tested by the Asian financial crisis, the Russian default and devaluation, the collapse of Long-Term Capital Management, the bursting of America's stock bubble, and the terrorist attacks of 9/11. In what amounts to a definitive playbook of monetary policy, Meyer now relives the Fed's closed-door debates -- debates that questioned how monetary policy should adapt to the possibility of a New Economy, how the Fed should respond to soaring equity prices, and whether the Fed should broker the controversial private sector bailout of LTCM, among other issues. Meyer deftly weaves these issues with firsthand stories about the personalities involved, from Fed Chairman Alan Greenspan to the various staffers, governors, politicians, and reporters that populate the world of the Fed. Since the end of his term, Meyer has continued to watch the Fed and the world economy. He believes that we are witnessing a repetition of some of the events of the remarkable 1990s -- including a further acceleration in productivity and perhaps another bull market. History does not repeat itself, yet Meyer shows us how the lessons learned yesterday may help the Fed shape policy today.
The Federal Reserve System Purposes And Functions
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Author : Board of Governors of the Federal Reserve System
language : en
Publisher:
Release Date : 2002
The Federal Reserve System Purposes And Functions written by Board of Governors of the Federal Reserve System and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Banks and Banking categories.
Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
The Fed Unbound
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Author : Lev Menand
language : en
Publisher:
Release Date : 2022-05-10
The Fed Unbound written by Lev Menand and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-05-10 with Business & Economics categories.
How an unelected, unaccountable institution gained immense power during the pandemic It is a bedrock principle of the US Constitution that Congress, as representatives of the people, sets economic policy and directs government resources. This all changed thirteen years ago, and even more dramatically during the pandemic. The Federal Reserve operates independently from the rest of the government, and can create as much money as it sees fit and use it without the prior approval of Congress, the courts, or the President. When the Fed creates new money to address economic problems, it helps certain groups, like powerful business interests, and becomes a massive driver of inequality. In The Fed Unbound, Lev Menand tells the story of how the Fed became out of control during the 2008 financial crisis and the 2020 pandemic, and what can be done about it.
The Lords Of Easy Money
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Author : Christopher Leonard
language : en
Publisher: Simon and Schuster
Release Date : 2023-01-10
The Lords Of Easy Money written by Christopher Leonard and has been published by Simon and Schuster this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-01-10 with Business & Economics categories.
The New York Times bestseller from business journalist Christopher Leonard infiltrates one of America’s most mysterious institutions—the Federal Reserve—to show how its policies spearheaded by Chairman Jerome Powell over the past ten years have accelerated income inequality and put our country’s economic stability at risk. If you asked most people what forces led to today’s unprecedented income inequality and financial crashes, no one would say the Federal Reserve. For most of its history, the Fed has enjoyed the fawning adoration of the press. When the economy grew, it was credited to the Fed. When the economy imploded in 2008, the Fed got credit for rescuing us. But here, for the first time, is the inside story of how the Fed has reshaped the American economy for the worse. It all started on November 3, 2010, when the Fed began a radical intervention called quantitative easing. In just a few short years, the Fed more than quadrupled the money supply with one goal: to encourage banks and other investors to extend more risky debt. Leaders at the Fed knew that they were undertaking a bold experiment that would produce few real jobs, with long-term risks that were hard to measure. But the Fed proceeded anyway…and then found itself trapped. Once it printed all that money, there was no way to withdraw it from circulation. The Fed tried several times, only to see the market start to crash, at which point the Fed turned the money spigot back on. That’s what it did when COVID hit, printing 300 years’ worth of money in a few short months. Which brings us to now: Ten years on, the gap between the rich and poor has grown dramatically, inflation is raging, and the stock market is driven by boom, busts, and bailouts. Middle-class Americans seem stuck in a stage of permanent stagnation, with wage gains wiped out by high prices even as they remain buried under credit card debt, car loan debt, and student debt. Meanwhile, the “too big to fail” banks remain bigger and more powerful than ever while the richest Americans enjoy the gains of a hyper-charged financial system. The Lords of Easy Money “skillfully” (The Wall Street Journal) tells the “fascinating” (The New York Times) tale of how quantitative easing is imperiling the American economy through the story of the one man who tried to warn us. This is the first inside story of how we really got here—and why our economy rests on such unstable ground.
Floored
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Author : George Selgin
language : en
Publisher:
Release Date : 2018-10-22
Floored written by George Selgin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-10-22 with Federal Reserve banks categories.
In October 2008, as the U.S. economy plunged, the Federal Reserve began paying interest on banks' reserve balances. The resulting switch to a "floor system" of monetary control, in which changes in the interest rate on reserves, rather than reserve creation or destruction, became the Fed's chief tool for influencing economic activity, was to have far-reaching consequences--almost all of them regrettable. Besides intensifying the downturn by causing banks to hoard reserves, the floor system all but destroyed the market for unsecured interbank loans that had been banks' ordinary "first resort" source of last-minute liquidity. By depriving the Fed's asset purchases of the ability to stimulate investment and spending, it also compelled the Fed to compensate by purchasing assets on an unprecedented scale. All of this resulted in a substantial increase in the Fed's role in allocating scarce credit. Finally, by severing the ordinary connection between the stance of monetary policy and the extent of the Fed's asset holdings, the floor system risks turning the Fed's balance sheet into a fiscal-policy playground. Floored! offers a matchless account of our post-crisis monetary system's history and shortcomings.
International Convergence Of Capital Measurement And Capital Standards
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Author :
language : en
Publisher: Lulu.com
Release Date : 2004
International Convergence Of Capital Measurement And Capital Standards written by and has been published by Lulu.com this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Bank capital categories.
The Global Curse Of The Federal Reserve
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Author : B. Brown
language : en
Publisher: Springer
Release Date : 2011-07-12
The Global Curse Of The Federal Reserve written by B. Brown and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-07-12 with Political Science categories.
The book reveals how the Global Credit Bubble and Bust of 2003-10 stemmed from giant monetary disequilibrium created by the Federal Reserve. Almost continually that institution has pursued flawed monetary practice and principle which has mutated into Bernanke-ism. The book dissects this and shows how it threatens the return of economic prosperity.