Summary of The Fed
Copyright © 2001 by Martin Mayer
Published by The Free Press / Simon & Schuster, Inc., N.Y.
Used by permission.
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This intricate history of the U.S. Federal Reserve Bank contains many surprising revelations about the hidden world of our central bankers, and one that might not come as much of a shock: The people calling the shots are probably no brighter than you. This simple observation is the take-away moral of Martin Mayer’s hefty book, which pulls the curtain aside to provide a fascinating, if sometimes rambling, glimpse into the world of the U.S. Fed. getAbstract.com heartily recommends this substantive work to anyone interested in learning how the U.S. economy really functions. (Postscript: Kudos to Mr. Mayer for pointing out a couple of years ago that the positive trends we enjoyed under the Greenspan heyday could indeed reverse.)
In this summary, you will learn
- A history of the modern U.S. Federal Reserve, with a special emphasis on the Greenspan years;
- How new information technologies have altered the Fed’s role in guiding the economy, and
- The conditions that helped the Fed maintain the economic prosperity of the 1990s.
About the Author
A well-respected financial journalist with more than 30 books to his credit, Martin Mayer is a guest scholar at the Brookings Institution. He is a regular contributor to the Wall Street Journal, and a columnist for OnMoney.com.