Term at the Fed: An Insider's View

Term at the Fed: An Insider's View

by Laurence H. Meyer
     
 

A governor of the U.S. Federal Reserve Board from 1996 to 2002, Meyer here provides a window into the debates over monetary policy. He primarily discusses the activities of the Federal Open Market Committee, which is in charge of setting the federal funds rate, which heavily impacts the interest rates charged to businesses and households, and hence has a huge impact… See more details below

Overview

A governor of the U.S. Federal Reserve Board from 1996 to 2002, Meyer here provides a window into the debates over monetary policy. He primarily discusses the activities of the Federal Open Market Committee, which is in charge of setting the federal funds rate, which heavily impacts the interest rates charged to businesses and households, and hence has a huge impact on the economy. Annotation ©2004 Book News, Inc., Portland, OR

Editorial Reviews

Publishers Weekly
Meyer was appointed to the Federal Reserve Board by President Clinton in 1996, and his term coincided with some of the most momentous economic events of the second half of the 20th century-the collapse of the Asian banking system, the implosion of the Russian economy and the birth and death of the so-called New Economy. Meyer was at the center of global financial policy making and witness to the inner workings of arguably the most powerful government agency in the world. Unfortunately, too much jargon and unrelated personal anecdotes clutter the text; Meyer stumbles from blithe personal asides ("I figured that if I didn't faint or throw up on the President, the nomination was mine"). He is strongest at summarizing complex macroeconomic theory and practice. His breezy style helps unlock the mystery of national monetary policy and global finance. A mystery unsolved is that of Fed Chairman Alan Greenspan, who is the central figure of the book. Though in close contact with him for six years, Meyer offers no more insight than one might find in a weekly news magazine. While broadly informative and certainly unique, the book represents an opportunity lost. Illus. (July) Copyright 2004 Reed Business Information.
Library Journal
Economist Meyer (Ctr. for Strategic and International Studies, Washington Univ.) served on the Federal Reserve Bank's Board of Governors from 1996 through 2001. His behind-the-scenes account presents the events, policies, politics, and people that shaped our monetary policy during this unusually volatile period, which saw the booming Nineties give way to a series of shocks ranging from the Asian meltdown to 9/11. Meyer discusses the power of the chairman, especially Alan Greenspan, who is expected to serve a fifth term, and the complex decision-making process. Especially enlightening are Meyer's thoughts on how the lessons learned from history help the Fed shape monetary policy today. Readable and well organized, this book provides an instructive look at irrational exuberance and the New Economy, as well as the global impact of U.S. monetary policy. Most business collections will want to purchase.-Susan C. Awe, Univ. of New Mexico Lib., Albuquerque Copyright 2004 Reed Business Information.
Gregory Robb
“A Term at the Fed is an interesting, accessible account of policymaking”
BusinessWeek
“peppered with insights.... [A Term at the Fed] is a welcome addition to the history of the past decade”
Washington Post
“Meyer sheds light on the Fed’s private rituals, customs and practices”
Fortune
“It is where [Meyer] gives glimpses of the maestro’s methods that the book is the most compelling”
Newsweek
“[A Term at the Fed] offers fascinating insights.”
Boston Sunday Globe
“Meyer writes about complex economic issues in a clear style”

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Product Details

ISBN-13:
9780060542702
Publisher:
HarperCollins Publishers
Publication date:
07/06/2004
Pages:
288
Product dimensions:
6.00(w) x 9.00(h) x 0.97(d)

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Gregory Robb
“A Term at the Fed is an interesting, accessible account of policymaking”

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