A Term At The Fed: An Insider's View

Synopsis

Over the last 20 years, no government institution has been more important to our economy than the Federal Reserve. Under Alan Greenspan, the Fed has exerted its powers in ways that affect the economic well-being of every citizen and every business. For the first time, a former Fed Governor shows the American public the inner workings of the Fed -- how it gets things done, how it reacts to crises, how it operates within the Washington political scene. In 1996, the beginning of Laurence H. Meyer's tenure on the Board of Governors, the United States was well into the most prosperous time in its history. Soon to follow, however, were the Asian Financial Crisis, the Long Term Capital disaster, the stock market meltdown, and of course, September 11. All will be discussed from Meyer's unique perspective at the Fed -- along with other events, the people, the policies, the politics, and, of course, the role of Chairman Greenspan. In A Term at the Fed, Meyer provides readers with a behind the scenes look into life at the Fed during a time of unprecedented growth and subsequent economic malaise. Weaving first-hand stories about the challenges of policy making with an insightful look at the highly politicized atmosphere at the board, Meyer makes accessible the process of decision-making, the strategy underlying monetary policy actions and the life of a Fed Governor. Meyer's explanations of economic policy as well as colourful descriptions of life at the Fed will provide readers with a never before seen glimpse behind the closed doors of one of the country's most powerful institutions.