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21st Century Monetary Policy: The Federal Reserve from the Great Inflation to COVID-19

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A former chair of the Federal Reserve explains the transformation of one our most powerful and consequential institutions

In response to the economic impact of the COVID-19 pandemic, the U.S. Federal Reserve and central banks worldwide have deployed tools that past policymakers and economists might have considered radical. Programmes like large-scale securities purchases and a new policy framework remain a source of confusion for investors, journalists and ordinary citizens alike.

Twenty-First Century Monetary Policy demystifies these opaque techniques to reveal how economic ideas, historical events and political forces have transformed the Fed’s policies over several decades. From the stagflation of the 1970s to the Great Recession and the recent pandemic, Ben S. Bernanke masterfully examines how the Fed’s policies—and the institution itself—may change as it grapples with persistently low interest rates, systemic financial risk, rapid technological change and polarised politics. With unparalleled depth of expertise and robust historical sweep, Twenty-First Century Monetary Policy is a must-read for anyone interested in understanding modern finance, investments or U.S. economic policy.

Author: Bernanke Ben
Publisher: NORTON
Pages: 512
ISBN: 9781324020462
Cover: Hardback
Edition Number: 1
Release Year: 2022
Ben S. Bernanke is distinguished fellow in residence at the Brookings Institution and was chairman of the Federal Reserve from 2006 to 2014. Timothy F. Geithner is president of the global private equity firm Warburg Pincus and was secretary of the Treasury from 2009 to 2013. Henry M. Paulson, Jr., is chairman of the Paulson Institute at the University of Chicago and was secretary of the Treasury from 2006 to 2009.

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