A Century of Monetary Policy at the Fed

Ben Bernanke, Janet Yellen, and the Financial Crisis of 2008

David E. Lindsey

• Publisher: Palgrave Macmillan
• Year: 2016
• Print ISBN: 9781137578587
• eBook ISBN: 9781137578594
• Topic: Economics
• Subtopic: Business General
• Index: Economics

In this narrative history, David E. Lindsey gives the reader a ringside seat to a century of policies at the US Federal Reserve. Alternating between broad historical strokes and deep dives into the significance of monetary issues and developments, Lindsey offers a fascinating look into monetary policymaking from the Fed's inception in 1913 to today.

Lindsey's three decades of service on the Federal Reserve Board staff allow him to combine the heft of scholarship with an insider's perspective on how the recent chairmen's and current chairwoman's personalities and singular visions have shaped policy choices with far-reaching consequences. He critiques the performances of Chairman Ben Bernanke and Vice Chair Janet Yellen during the prelude, outbreak, and aftermath of the financial crisis of 2008, situating them in the context of the Fed's century-long history. He also quantitatively explores an alternative to the conventional New-Keynesian theory of inflation, replacing so-called "rational expectations" with the Fed's inflation objective.

This unique volume is a piece of living history that has much to offer economists and monetary policy and finance professionals.

Table of contents

• Cover
• Title
• Copyright
• Dedication
• Contents
• List of Figures and Tables
• 1 Introducing the Book
• Part I: The Broad Sweep of Federal Reserve History: December 1913–December 2013
• Part II: Monetary Policy in Chairman Bernanke’s Era: Taking a Closer Look at Monetary Policymaking and Communication, February 2006–January 2014
• Part III: Related Developments in Chairman Bernanke’s Era: February 2006–January 2014
• Notes
• Index