Limitless: The Federal Reserve Takes on a New Age of Crisis
by Jeanna Smialek
Buy on AmazonA fascinating deep dive into one of the most powerful and least understood American institutions—the Federal Reserve. The marble halls of the Federal Reserve have always held secrets; for decades the Fed did the utmost to preserve its room to maneuver, operating behind the scenes as much as possible. Yet over the past two decades, this elite world of bankers and economists speaking a language that only monetary experts could understand has been forced to change its ways. Amid rising inequality, weakening global economic prospects, and a pandemic, the central bank has entered into a new era of transparency and activism that has changed its role in modern society in subtle but remarkable ways.…
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"Since the pandemic, the economy has been on something of a roller coaster. It can feel arbitrary to most people reading the headlines, but there is one organization whose job it is to manage all of this: the Federal Reserve. New York Times reporter Jeanna Smialek covers the Fed, and in this book, she explains to the reader just how important the Fed is to the lives of ordinary people and details the changing role of the Fed amid crisis. Through human-level storytelling, she makes the Fed’s seemingly closed-door decision-making feel refreshingly transparent."
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