Ben Bernanke's Fed : The Federal Reserve After Greenspan ISBN: 9781422125847

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Table of Contents

Acknowledgments vii 1 It's All About the Benjamin 1 An Early Look at the New Fed Chairman PART I BERNANKE'S BACKDROP The Federal Reserve's Role in the Economy 2 How the World Works 13 A Brief Course in Macroeconomics 3 Secrets of the Temple 27 Demystifying the Fed 4 Declaration of Independence 37 The Political Economy of Central Banking 5 Blowing Smoke 51 The Fed's Evolving Communication Strategy PART II BERNANKE'S BENCHMARK The Shadow of Alan Greenspan 6 Greenspan, an Enviable Record 61 Greenspan's Successes as Fed Chairman 7 Greenspan, to Err Is Human 73 The Downside of Greenspan's Chairmanship PART III BERNANKE'S BELIEFS How Bernanke's Life Work Shapes His Policies 8 Constrained Discretion 95 Bernanke's Quest for an Inflation Target 9 Depression Obsession 113 How the Great Depression Informs Bernanke's Thinking 10 Glasnost 127 Democracy Comes to the Fed 11 Zen and the Art of Monetary Maintenance 141 The Fed's New Communication Style 12 See No Evil, Hear No Evil, Speak No Evil 147 The Policy Response to an Asset Market Bubble 13 Radical Risk Management 159 A New Policy Focus for the Fed PART IV BERNANKE'S BEGINNING The Early Report Card 14 Murphy's Law 167 New Fed Chairmen Always Seem to Face a Tough Environment 15 Pressure Cooker 181 Bernanke's Performance in His First Two Years Conclusion Can He Walk the Walk? 203 The Outlook for the Bernanke Fed Notes 211 Index 229 About the author 237

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Made available by Baker & Taylor, Copyright 2006.