Inside the Fed: Monetary Policy and Its Management, Martin through Greenspan to Bernanke As for the Greenspan years, Axilrod points to the unintended effects of the Fed's newfound "garrulousness" (the plethora of announcements and hints about policy intentions) -- . He worked at the Fed's Board of Governors for over thirty years and after that in private markets and as a consultant on
| Title | : | Inside the Fed: Monetary Policy and Its Management, Martin through Greenspan to Bernanke |
| Author | : | |
| Rating | : | 4.57 (582 Votes) |
| Asin | : | 0262012499 |
| Format Type | : | Hardcover |
| Number of Pages | : | 216 Pages |
| Publish Date | : | 2009-02-06 |
| Genre | : |
Stephen Axilrod is the ultimate Federal Reserve insider. He worked at the Fed's Board of Governors for over thirty years and after that in private markets and as a consultant on monetary policy. With Inside the Fed, he offers his unique perspective on the inner workings of the Federal Reserve System during the last fifty years -- writing about personalities as much as policy -- based on his knowledge and observations of every Fed chairman since 1951.Axilrod's discussion focuses on how the personalities of the various chairmen affected their capacity for leadership. He describes, for example, Arthur Burns's response to political pressure from the Nixon White House and Paul Volcker's radical shift to an anti-inflationary policy at the end of the 1970s -- a transition in which Axilrod himself played a crucial role. As for the Greenspan years, Axilrod points to the unintended effects of the Fed's newfound "garrulousness" (the plethora of announcements and hints about policy intentions) --
Editorial : From Publishers Weekly Axilrod, a longtime Federal Reserve System veteran, provides an insider's perspective on how the Fed has evolved over the past 50 years. Revealing the impact of personalities and their responses to political, social and bureaucratic situations, he explores such key topics such as money supply vs. interest rates, monetary base and reserve aggregates vs. money-market conditions, and increased emphasis on real-world variables rather than on monetary variables as indicators and guides for policy. The book is based mostly on anecdotal recollections of personal interactions with central bank leaders and others as they managed policy discussions and implementation. Despite the involvement of other influential parties, Axilrod's view is that chairmen took the lead in policy formation but had limited influence on the day-to-day operating targets. He also offers his thoughts on the future of the organization, noting that leaders will need to take a more direct account of i
I was pleasantly surprised when I pulled this out of the box! It is so much nicer than I had expected it to be. A charming story, it's the first in a new series. For the past couple of years, it has been easier to hide my own math insecurities by painting broad strokes about the usefulness and long term benefit of Common Core Math -- i.e., "it makes no sense," "I can't help my own child with his homework," "its too fuzzy and math is not fuzzy; math is exact," " this is much to advanced an complicated for my 2nd/3rd grader." Then this Fall, my 3rd grader came home and began doing division right before my eyes. One strong point is that the book presents the intuition behind the formulas.. It's an appalling idea, one I've never seen elsewhere, and totally without context. They can hide their guilt behind their tears. There are still too many so called “gun-free” zones.
If I have any fault with the book it is that the author did not lay enough blame with the politici
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