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• catalog abstract "The Fed has entered a new era, and hardly anyone understands the rules of its game. Where once it could control the economy by controlling what the banks did, it now must push directly on the markets. But how? Why do interest-rate changes sometimes move the markets as expected, and sometimes fail to have any effect? What else is the Fed doing that might affect asset prices and growth rates? The links between Fed decisions and market reactions have become far more complicated and confused than ever before. What is an investor to make of it? In The Fed, one of the world's best financial journalists offers a major new explanation of how the Fed works and how its world has changed. Martin Mayer is the bestselling author of The Bankers and The Bankers: The Next Generation, among many other books. He knows more about the banking system, the markets, and the Federal Reserve than anyone else writing today. The Fed is the first book to explain 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. For anyone who wants to know why Alan Greenspan is hailed as the second most powerful man in the United States, The Fed is essential reading. 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? These are just some of the questions answered in this wide-ranging, sharp, and entertaining book.".
• catalog contributor b12135005.
• catalog created "c2001.".
• catalog date "2001".
• catalog date "c2001.".
• catalog dateCopyrighted "c2001.".
• catalog description "Includes bibliographical references (p. 323-337) and index.".
• catalog description "Magician on the world stage -- Magician at home -- What is a central bank? -- Question of independence -- System and its risks -- American lender of last resort -- Age of invention -- Monetary policy in the maelstrom -- Disaster time -- Greenspan and the markets -- Internationally -- Payments franchise -- Supervisions -- Fed and the poor -- Fed in our future.".
• catalog description "The Fed has entered a new era, and hardly anyone understands the rules of its game. Where once it could control the economy by controlling what the banks did, it now must push directly on the markets. But how? Why do interest-rate changes sometimes move the markets as expected, and sometimes fail to have any effect? What else is the Fed doing that might affect asset prices and growth rates? The links between Fed decisions and market reactions have become far more complicated and confused than ever before. What is an investor to make of it? In The Fed, one of the world's best financial journalists offers a major new explanation of how the Fed works and how its world has changed. Martin Mayer is the bestselling author of The Bankers and The Bankers: The Next Generation, among many other books. He knows more about the banking system, the markets, and the Federal Reserve than anyone else writing today. ".
• catalog description "The Fed is the first book to explain 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. For anyone who wants to know why Alan Greenspan is hailed as the second most powerful man in the United States, The Fed is essential reading. 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. ".
• catalog description "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? These are just some of the questions answered in this wide-ranging, sharp, and entertaining book.".
• catalog extent "xiii, 350 p. ;".
• catalog hasFormat "Fed.".
• catalog identifier "068484740X".
• catalog isFormatOf "Fed.".
• catalog issued "2001".
• catalog issued "c2001.".
• catalog language "eng".
• catalog publisher "New York : Free Press,".
• catalog relation "Fed.".
• catalog spatial "United States.".
• catalog subject "332.1/1/0973 21".
• catalog subject "Board of Governors of the Federal Reserve System (U.S.)".
• catalog subject "HG2563 .M293 2001".
• catalog subject "Monetary policy United States.".
• catalog subject "Stock exchanges United States.".
• catalog tableOfContents "Magician on the world stage -- Magician at home -- What is a central bank? -- Question of independence -- System and its risks -- American lender of last resort -- Age of invention -- Monetary policy in the maelstrom -- Disaster time -- Greenspan and the markets -- Internationally -- Payments franchise -- Supervisions -- Fed and the poor -- Fed in our future.".
• catalog title "The Fed : the inside story of how the world's most powerful financial institution drives the markets / Martin Mayer.".
• catalog type "text".