Description
An insider's account of the workings of the Federal Reserve, thoroughly updated toencompass the Fed's action (and inaction) during the recent financial meltdown.
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Stephen Axilrod is the ultimate Federal Reserve insider. He worked at the Fed's Boardof Governors for more than thirty years and after that in private markets and as a consultant onmonetary policy. With Inside the Fed, he offers his unique perspective on theinner workings of the Federal Reserve System during the last fifty years. This new, post-financialmeltdown edition offers his assessment of the Fed's action (and inaction) during the crisis andexpanded coverage of the Fed in the Bernanke era.Great leadership in monetarypolicy, Axilrod says, is determined not by pure economic sophistication but by the ability to pushthrough political and social barriers to achieve a paradigm shift in policy -- and by the courageand bureaucratic moxie to pull it off.
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