The Fed: The Inside Story of How the World's Most Powerful Financial Institution Drives the Markets

When Alan Greenspan talks, people listen. But why? Everyone knows that the Federal Reserve Bank and its chairman are at the heart of the economy, but does anyone really understand how it all works? In the past, the Fed managed the economy by controlling the activities of banks. But financial journalist Martin Mayer shows how the Fed now attempts to push directly on the markets. He explains how the Fed's increasingly public image has muddied the waters of cause and effect between the Fed, banks, the economy, and the markets. Mayer takes readers behind the scenes on a fascinating journey through the history and inner workings of the Fed and the men who have taken their turn behind the wheel.