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.)
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.