21st Century Monetary Policy: The Federal Reserve from the Great Inflation to COVID-19
Ben S. Bernanke
May 2022 · RB Media · Narrated by George Guidall
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16 hr 7 min
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About this audiobook
21st Century Monetary Policy takes readers inside the Federal Reserve, explaining what it does and why.
In response to the COVID-19 pandemic, the Federal Reserve deployed an extraordinary range of policy tools that helped prevent the collapse of the financial system and the U.S. economy. Chair Jerome Powell and his colleagues
lent directly to U.S. businesses, purchased trillions of dollars of government securities, pumped dollars into the international financial system, and crafted a new framework for monetary policy that emphasized job creation.
These strategies would have astonished Powell’s late-20th-century predecessors, from William McChesney Martin to Alan Greenspan, and the advent of these tools raises new questions about the future landscape of economic policy.
In 21st Century Monetary Policy, Ben S. Bernanke—former chair of the Federal Reserve and one of the world’s leading economists—explains the Fed’s evolution and speculates about its future. Taking a fresh look at the bank’s policymaking over the past seventy years, including his own time as chair, Bernanke
shows how changes in the economy have driven the Fed’s innovations. He also lays out new challenges confronting the Fed, including the return of inflation, cryptocurrencies, increased risks of financial instability, and threats to its independence.
Beyond explaining the central bank’s new policymaking tools, Bernanke also captures the drama of moments when so much hung on the Fed’s decisions, as well as the personalities and philosophies of those who have led the institution.
In response to the COVID-19 pandemic, the Federal Reserve deployed an extraordinary range of policy tools that helped prevent the collapse of the financial system and the U.S. economy. Chair Jerome Powell and his colleagues
lent directly to U.S. businesses, purchased trillions of dollars of government securities, pumped dollars into the international financial system, and crafted a new framework for monetary policy that emphasized job creation.
These strategies would have astonished Powell’s late-20th-century predecessors, from William McChesney Martin to Alan Greenspan, and the advent of these tools raises new questions about the future landscape of economic policy.
In 21st Century Monetary Policy, Ben S. Bernanke—former chair of the Federal Reserve and one of the world’s leading economists—explains the Fed’s evolution and speculates about its future. Taking a fresh look at the bank’s policymaking over the past seventy years, including his own time as chair, Bernanke
shows how changes in the economy have driven the Fed’s innovations. He also lays out new challenges confronting the Fed, including the return of inflation, cryptocurrencies, increased risks of financial instability, and threats to its independence.
Beyond explaining the central bank’s new policymaking tools, Bernanke also captures the drama of moments when so much hung on the Fed’s decisions, as well as the personalities and philosophies of those who have led the institution.
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4.5
4 reviews
About the author
Ben Shalom. Bernanke was born on December 13, 1953 in Augusta, Georgia and was raised in Dillon, South Carolina. He has a Bachelor of Arts degree and a Masters in Economics from Harvard University and a Ph.d in in Economics from Massachusetts Institute of Technology. Bernanke taught at Stanford Graduate School of Business and New York University. He was a professor of economics at Princeton University. He served as chairman of the Federal Reserve from 2006 to 2014. Time magazine named him "Person of the Year" in 2009. Since leaving public servce he has changed his political affiliation from Republican to a moderate Independent. He and his wife Anna have two children.In 2015, his larest book, "The Courage to Act: A Memoir of a Crisis and its Aftermath," became a New York Times bestseller.
George Guidall is one of the most prolific narrators of audiobooks in the world. He has recorded nearly 650 unabridged novels, everything from "Crime and Punishment" and "The Iliad" to "Snow Falling on Cedars." He began his career as an actor, appearing on Broadway and touring Europe with Helen Hayes in the "Glass Menagerie," " Miracle Worker" and "The Skin of Our Teeth." He received an Obie Award for Best Performance Off-Broadway, and has continued his performances in theater for over 40 years. Guidall has also appeared on television, with roles on the soap "One Life to Live" and "Law and Order," and in movies such as "Malcolm X" and "Tales from the Darkside." His first job reading audiobooks was for the Library of Congress' American Foundation for the Blinds' Talking Books. Since then he has won the most prestigious Audiobook Award, the Audie Award, for Best Unabridged Narration of a novel for his recording of John Irving's "A Widow for One Year." He won the Audie again in 2000 for Wally Lamb's "I Know This Much is True."
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