http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
the inside story of how the world's most powerful financial institution drives the markets
"In The Fed, Martin Mayer explains how the Fed works, how its world has changed, why all the old rules for Fed watchers are no longer operative, and what it is that investors must know to understand the Fed today. Mayer offers many behind-the-scenes stories from past and present Fed administrations, and he explains the overlooked significance of recent dramatic expansions in the Fed's powers and perks. Why does the Fed care about the difference between 30-year and 29-year bond yields?
Why and how did the Fed join with its district banks in organizing the bailout of Long Term Capital Management? How was the age-old war between the Fed and the Comptroller of the Currency finally resolved in 1999? Why has the increased "sunshine" of announcing market interventions and posting proceedings of the Federal Open Market Committee not led to greater market stability?
Why did Greenspan make the key decision of the Clinton boom years - to let the good times roll while unemployment sank to record lows - despite all historical evidence that it would be inflationary?"--Jacket
part 1. Magic Tricks. Ch. 1. The Magician on the World Stage. Ch. 2. The Magician at Home -- part 2. Central Banks. Ch. 3. What Is a Central Bank? Ch. 4. The Question of Independence -- part 3. Avoiding Catastrophe. Ch. 5. The System and Its Risks. Ch. 6. The American Lender of Last Resort -- part 4. Making Money. Ch. 7. The Age of Invention. Ch. 8. Monetary Policy in the Maelstrom. Ch. 9. Disaster Time. Ch. 10. Greenspan and the Markets. Ch. 11. Internationally -- part 5. The Day Jobs. Ch. 12. The Payments Franchise. Ch. 13. Supervisions. Ch. 14. The Fed and the Poor -- part 6. What's Next? Ch. 15. The Fed in Our Future.
Includes bibliographical references and index.
Board of Governors of the Federal Reserve System (U.S.)