Chariman of the FED.: William McChesney Martin Jr., and the Creation of the Modern Federal Reserve System

This is the first biography of William McChesney Martin, Jr. (1906-1998), the first paid president of the New York Stock Exchange and the chairman of the Federal Reserve System under Presidents Truman to Nixon. The extent of Martin's influence on the course of American economic history was significant: arguably he has done more to strengthen and reform the nation's most important financial institutions than has any other individual. Chairman of the Fed tells Martin's fascinating lifre story and explains his lasting impact on the NYSE and the Fed, both troubled institutions that Martin transformed. The book provides an inside look into the economic deliberations of five presidential administrations and describes Martin's battles to bring about ethical and intelligent regulation of U.S. financial markets. His experiences shed light not only on the evolution of the American financial system but also on critical issues that confront the system today.

About the Author :
Robert P. Bremner has held positions in the World Bank and the investment baking industry. He is a former small business owner and currently serves as a public trustee for a large mutual fund management company.

Review :
"Whatever your definition of a 'great american, ' Bill Martin meets it. He passed effortlessly from floor broker on the NYSE to its first professional paid president, became the only Wall Streeter to enter the Army as a private in World War II, [helped] negotiate the end of lend lease with Russia, created while Assistant Secretary of the Treasury, the document that established the independence of the Federal Reserve System, then served 18 years as the Fed's Chairman, playing tennis just about every day. A one-of-a-kind narrative." Martin Mayer, author of The Fed: The Inside Story of How the World s Most Powerful Financial Institution Drives the Markets " Creation of the modern Federal Reserve System is, to a very considerable extent, the work of William McChesney Martin, Jr. Robert Bremner s book brings out the character, conviction, courage, and collegiality that Martin brought to this historic achievement. -Allan H Meltzer, author of A History of the Federal Reserve and Professor of Political Economy, Carnegie Mellon University " " Creation of the modern Federal Reserve System is, to a very considerable extent, the work of William McChesney Martin, Jr. Robert Bremner's book brings out the character, conviction, courage, and collegiality that Martin brought to this historic achievement." -Allan H Meltzer, author of A History of the Federal Reserve and Professor of Political Economy, Carnegie Mellon University "Creation of the modern Federal Reserve System is, to a very considerable extent, the work of William McChesney Martin, Jr. Robert Bremner's book brings out the character, conviction, courage, and collegiality that Martin brought to this historic achievement." -Allan H Meltzer, author of A History of the Federal Reserve and Professor of Political Economy, Carnegie Mellon University