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Home > Business and Economics > Economics > Economic history > The Fed: The Inside Story of the World's Most Powerful Institution
The Fed: The Inside Story of the World's Most Powerful Institution

The Fed: The Inside Story of the World's Most Powerful Institution


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About the Book

The Federal Reserve system was designed, built and operated as an agency that forced its policies on American banks. The banks in turn had the power to push around the real economy. Now the Federal Reserve finds itself in a world where banks don't matter as much. Markets set interest rates, markets determine liquidity and markets help or hinder the plans of businessmen. Markets are unpredictable, international and, worst of all, they have their own information systems that do not follow the rules of banking or bank supervision. In response, the Federal Reseve has reinvented itself in a way not yet understood even by sophisticated investors. This text offers a look at the "new" Federal Reserve: what it does, what it doesn't do, what it must do, how it works, and how it hasn't changed. It looks at how the Federal Reserve judges market levels, how and when it decides to intervene, how it judges whether a hot economy will produce inflation or not, and many other decisions it makes.

About the Author :
Martin Mayer is a premier financial journalist with many bestselling books to his credit including THE BANKERS and THE GREATEST-EVER BANK ROBBERY. He is a guest scholar at the Brookings Institution, regular contributor to THE WALL STREET JOURNAL and a popular columnist for OnMoney.com.

Review :
Robert Litan Vice President and Director, Economic Studies Program, The Brookings Institution The extraordinary performance of the U.S. economy in the 1990s is due, in no small measure, to the superb monetary management by the Federal Reserve Board. There is no one better qualified to take readers behind the scenes to understand how the Fed really operates than Martin Mayer, whose matchless prose is equaled by his thorough understanding of how the economy, the banking system, and the Federal Reserve really operate.


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Product Details
  • ISBN-13: 9780684847405
  • Publisher: Simon & Schuster Ltd
  • Publisher Imprint: Free Press
  • Height: 240 mm
  • Returnable: N
  • Weight: 590 gr
  • ISBN-10: 068484740X
  • Publisher Date: 27 Feb 2002
  • Binding: Hardback
  • Language: English
  • Sub Title: The Inside Story of the World's Most Powerful Institution
  • Width: 165 mm


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