Fed Reckoning
Conversations on America's Central Bank
Will be published approx. on 23. March 2027
Book
Hardback
608 pages
978-0-300-27604-6 (ISBN)
Description
A critical examination of the Federal Reserve-told by the policymakers, economists, and observers who know it best
The Federal Reserve is one of the most powerful institutions in the world-and one of the least understood. Drawing on twenty-one interviews with former governors, reserve bank presidents, staff economists, lawmakers, journalists, scholars, international central bankers, and investors, Fed Reckoning explores how the institution has navigated the defining upheavals of the modern era: the global financial crisis, the pandemic shock, the post-2021 inflation surge, and the banking turmoil of 2023. It traces the modern Federal Reserve from Volcker to Powell, examining its evolving approach to the dual mandate, financial stability, regulation and supervision, and communication.
Just as importantly, these interviews reveal the people behind the institution: their judgments, disagreements, frustrations, and sense of mission. The result is a candid, deeply informed portrait of the Federal Reserve at a moment when its power is immense, its independence is under pressure, and its future path is far from certain-and essential reading for anyone seeking to understand how it makes and defends its decisions.
The Federal Reserve is one of the most powerful institutions in the world-and one of the least understood. Drawing on twenty-one interviews with former governors, reserve bank presidents, staff economists, lawmakers, journalists, scholars, international central bankers, and investors, Fed Reckoning explores how the institution has navigated the defining upheavals of the modern era: the global financial crisis, the pandemic shock, the post-2021 inflation surge, and the banking turmoil of 2023. It traces the modern Federal Reserve from Volcker to Powell, examining its evolving approach to the dual mandate, financial stability, regulation and supervision, and communication.
Just as importantly, these interviews reveal the people behind the institution: their judgments, disagreements, frustrations, and sense of mission. The result is a candid, deeply informed portrait of the Federal Reserve at a moment when its power is immense, its independence is under pressure, and its future path is far from certain-and essential reading for anyone seeking to understand how it makes and defends its decisions.
Reviews / Votes
"With its interviews of key policymakers, Simon Bowmaker's book opens wide a door into the often-obscure world of Fed policymaking."-Robert Hetzel, author of The Federal Reserve: A New History"A treasure trove of interviews of people who have played a notable role in shaping 21st century Federal Reserve policy."-Kenneth Rogoff, author of Our Dollar, Your Problem: An Insider's View of Seven Turbulent Decades of Global Finance, and the Road Ahead
"Fed Reckoning is a unique and indispensable resource for anyone who cares about central banking. The people who have done the most to shape the Federal Reserve-from the inside and outside-reflect candidly on the most important economic and institutional issues facing our economy today. The result ranges from the personal to the analytical and is essential reading for anyone trying to understand where the Fed has been and where it is headed." -Jason Furman, Harvard University
More details
Series
Language
English
Place of publication
United States
Product notice
Cloth over boards
Illustrations
27 b-w illus.
Dimensions
Height: 235 mm
Width: 156 mm
ISBN-13
978-0-300-27604-6 (9780300276046)
Copyright in bibliographic data is held by Nielsen Book Services Limited or its licensors: all rights reserved.
Schweitzer Classification
Person
Simon Bowmaker is Distinguished Clinical Professor of Economics at New York University's Stern School of Business. He is the author of several books using the interview format, most recently When the President Calls: Conversations with Economic Policymakers.