The Power and Independence of the Federal Reserve
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Narrated by:
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Brian Holsopple
About this listen
The independence of the Federal Reserve is considered a cornerstone of its identity, crucial for keeping monetary policy decisions free of electoral politics. But do we really understand what is meant by "Federal Reserve independence"?
Using scores of examples from the Fed's rich history, The Power and Independence of the Federal Reserve shows that much common wisdom about the nation's central bank is inaccurate. Legal scholar and financial historian Peter Conti-Brown provides an in-depth look at the Fed's place in government, its internal governance structure, and its relationships to such individuals and groups as the president, Congress, economists, and bankers.
Exploring how the Fed regulates the global economy and handles its own internal politics, and how the law does - and does not - define the Fed's power, Conti-Brown captures and clarifies the central bank's defining complexities. He examines the foundations of the Federal Reserve Act of 1913, which established a system of central banks, and the ways that subsequent generations have redefined the organization. Challenging the notion that the Fed Chair controls the organization as an all-powerful technocrat, he explains how institutions and individuals - within and outside of government - shape Fed policy. Conti-Brown demonstrates that the evolving mission of the Fed - including systemic risk regulation, wider bank supervision, and as a guardian against inflation and deflation - requires a reevaluation of the very way the nation's central bank is structured.
Investigating how the Fed influences and is influenced by ideologies, personalities, law, and history, The Power and Independence of the Federal Reserve offers a clear picture of this uniquely important institution.
©2016 Princeton University Press (P)2016 Audible, Inc.Listeners also enjoyed...
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- By: Robert G. Kaiser
- Narrated by: Matthew Josdal
- Length: 19 hrs and 9 mins
- Unabridged
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An eye-opening account of how Congress today really works - and doesn’t - that follows the dramatic journey of the sweeping financial reform bill enacted in response to the Great Crash of 2008. The founding fathers expected Congress to be the most important branch of government and gave it the most power. When Congress is broken - as its justifiably dismal approval ratings suggest - so is our democracy.
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insightful, and eye opening.
- By A&K Schneider on 10-21-17
By: Robert G. Kaiser
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America's Bank
- The Epic Struggle to Create the Federal Reserve
- By: Roger Lowenstein
- Narrated by: Robertson Dean
- Length: 9 hrs and 39 mins
- Unabridged
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A tour de force of historical reportage, America’s Bank illuminates the tumultuous era and remarkable personalities that spurred the unlikely birth of America’s modern central bank, the Federal Reserve. Today, the Fed is the bedrock of the financial landscape, yet the fight to create it was so protracted and divisive that it seems a small miracle that it was ever established. For nearly a century, America, alone among developed nations, refused to consider any central or organizing agency in its financial system.
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Important and Intriguing
- By Jean on 11-02-15
By: Roger Lowenstein
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Hostile Takeover
- Resisting Centralized Government's Stranglehold on America
- By: Matt Kibbe
- Narrated by: George Newbern
- Length: 12 hrs and 11 mins
- Unabridged
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Hostile Takeover is a rebellious challenge to the "upper management" of government, who are choking American prosperity and liberty. Matt Kibbe exposes the privileged collusion of Washington insiders - and maps out a proven plan for how to return power from the self-appointed "experts" back to the people. Dubbed "one of the Tea Party's masterminds" by Newsweek, Kibbe reveals how grassroots citizens can and will check the federal behemoth and restore the American enterprise.
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An amazing book from an interesting perspective
- By Aaron on 12-28-12
By: Matt Kibbe
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The Price of Greatness
- By: Jay Cost
- Narrated by: Dan Woren
- Length: 8 hrs and 10 mins
- Unabridged
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In the history of American politics, there are few stories as enigmatic as that of Alexander Hamilton and James Madison's bitterly personal falling out. Together they helped bring the Constitution into being, yet soon after the new republic was born, they broke over the meaning of its founding document. Hamilton emphasized economic growth; Madison the importance of republican principles. Author Jay Cost is the first to argue that both men were right - and that their quarrel reveals a fundamental paradox at the heart of the American experiment.
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Principles in Tension
- By William Ehrich on 06-13-18
By: Jay Cost
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And the Weak Suffer What They Must?
- Europe's Crisis and America's Economic Future
- By: Yanis Varoufakis
- Narrated by: Yanis Varoufakis, Leighton Pugh
- Length: 10 hrs and 21 mins
- Unabridged
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In January 2015, Yanis Varoufakis, an economics professor teaching in Austin, Texas, was elected to the Greek parliament with more votes than any other member of parliament. He was appointed finance minister, and, in the whirlwind five months that followed, everything he had warned about was confirmed as the "troika" (the European Central Bank, International Monetary Fund, and European Commission) stonewalled his efforts to resolve Greece's economic crisis.
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interesting perspective
- By Jamila on 07-12-20
By: Yanis Varoufakis
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Volcker
- The Triumph of Persistence
- By: William L. Silber
- Narrated by: Ross Douglas
- Length: 9 hrs and 51 mins
- Unabridged
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Over the course of nearly half a century, five American presidents - three Democrats and two Republicans - have relied on the financial acumen, and the integrity, of Paul A. Volcker. During his tenure as chairman of the Federal Reserve Board, when he battled the Great Inflation of the 1970s, Volcker did nothing less than restore the reputation of an American financial system on the verge of collapse.
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Required Reading for 2022 Economy
- By Marc Uknis on 11-19-22
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JFK and the Reagan Revolution
- A Secret History of American Prosperity
- By: Lawrence Kudlow, Brian Domitrovic
- Narrated by: Norman Dietz
- Length: 9 hrs and 25 mins
- Unabridged
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Who invented supply-side economics - the idea that cutting tax rates can result in more growth, more prosperity at all income levels, and even more tax revenue flowing into the IRS? Most people would credit the economic team that advised Ronald Reagan in the late 1970s and early 1980s. But in fact supply-side economics came of age two decades earlier. And the first president who embraced it was one of the biggest icons of the Democratic Party - John F. Kennedy.
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Turn the speed up to 1 1/2 to 2 times
- By B. MIDDLETON on 09-15-16
By: Lawrence Kudlow, and others
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The Great Degeneration
- How Institutions Decay and Economies Die
- By: Niall Ferguson
- Narrated by: Paul Slack
- Length: 4 hrs and 18 mins
- Unabridged
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Best-selling author and world-renowned historian Niall Ferguson has won widespread acclaim for thought-provoking works such as Civilization and High Financier. The Great Degeneration tackles nothing less than the decline of Western civilization. Ferguson posits that slowing growth, outrageous debt, and antisocial behavior are contributing to the erosion of the West’s once rock-solid foundations. Ferguson excavates the causes and shows how heroic leadership and radical reform are needed to right the course.
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Superb as always!
- By Ivanhoe on 08-28-17
By: Niall Ferguson
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Shaky Ground
- The Strange Saga of the US Mortgage Giants
- By: Bethany McLean
- Narrated by: Gabra Zackman
- Length: 3 hrs and 33 mins
- Unabridged
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In 2008 the US Treasury put Fannie Mae and Freddie Mac into a life-support state known as "conservatorship" to prevent their failure - and worldwide economic chaos. The two companies, which were always controversial, have become a battleground. Today, Fannie and Freddie are profitable again but still in conservatorship. Their profits are being redirected toward reducing the federal deficit, which leaves them with no buffer should they suffer losses again.
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Details on the Culture and History of the GSEs
- By Jose on 10-15-15
By: Bethany McLean
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Right Here, Right Now
- Politics and Leadership in the Age of Disruption
- By: Stephen J. Harper
- Narrated by: Stephen J. Harper
- Length: 6 hrs and 32 mins
- Unabridged
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The world is in flux. Disruptive technologies, ideas, and politicians are challenging business models, norms, and political conventions everywhere. How we, as leaders in business and politics, choose to respond matters greatly. Right Here, Right Now sets out a pragmatic, forward-looking vision for leaders in business and politics by analyzing how economic, social, and public policy trends - including globalized movements of capital, goods, and services, and labor - have affected our economies, communities, and governments.
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Excellent book on Politics for Canadians AND Americans
- By John Fernandes on 10-19-18
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The Party Is Over
- How Republicans Went Crazy, Democrats Became Useless, and the Middle Class Got Shafted
- By: Mike Lofgren
- Narrated by: Mel Foster
- Length: 7 hrs and 49 mins
- Unabridged
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There was a time, not so very long ago, when perfectly rational people ran the Republican Party. So how did the party of Lincoln become the party of lunatics? That is what this book aims to answer. Fear not, the Dems come in for their share of tough talk - they are zombies, a party of the living dead. Mike Lofgren came to Washington in the early eighties - those halcyon, post-Nixonian glory days - for what he imagined would be a short stint on Capitol Hill.
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A Great Analysis
- By Dan D on 09-04-12
By: Mike Lofgren
What listeners say about The Power and Independence of the Federal Reserve
Average customer ratingsReviews - Please select the tabs below to change the source of reviews.
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- aj perry
- 12-09-24
pro fed sales pitch
the first hour felt like a fast talking sales pitch full of double talk. this would have been my 3rd book on the fed, but I am giving up after an hour. it has an interesting pro fed reserve bias while trying to convince you it is neutral or anti fed.
I don't care either way but it felt poorly written. I learned nothing and it couldn't hold my attention
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- Amazon Customer
- 01-04-21
A Nice Review of Fed Independence
Maybe not suited for Fed experts, but if you're looking to learn some Fed history while exercising or doing chores (how I listened to it), then it's a good overview of Fed history and governance. Most importantly, it doesn't devolve into conspiracy theories.
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3 people found this helpful
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- Jim
- 05-01-22
Great read!
I have been reading books and articles trying to understand the Fed. This book is the most informative and clarifying I have read so far.
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- Philo
- 10-03-16
Meandering, gossipy, a bit pop-journalistic
I'm not sure who the intended audience is. This book would not work well as a first introduction to the Fed -- one should already have a broad outline of the story and players and the historical backdrop. On the other hand, it does not work as a penetrating, advanced study or treatise into the Fed either: it lacks the discipline to be this. It does not establish a clear historical background or theses to pursue systematically. It jumps around a lot. It is more like a series of anecdotes which are of interest to general followers of the story and those interested in various permutations of the story, and not a little Fed-watcher trivia appearing willy-nilly along the way. So, in a sense, I might qualify as the intended audience: a person of intermediate, mostly popular-level understanding of the Fed, having read a few books on it, and not entirely uninterested in wandering with the author hither and thither, and picking up many of the popular phrases and anecdotes of the Fed's story. There are interesting vignettes and personality sketches all over the place.
Meanwhile, the author does have lapses, not least in crafting metaphors: the author's oft-repeated "Ulysses-Punchbowl model" of the Fed's basic job is a mangled grafting-together of metaphors borrowed from others, and remains murky and third-rate. Certainly good communicators such as FDR or the Fed's own William McChesney Martin would be spinning in their graves at such inelegance and awkwardness. The book has virtues, and is an enjoyable casual listening experience, but simply lacks any clear, consistent traction on any segment of its subject matter. It talks about a lot of things, and a lot of important things, and often well, and often entertainingly enough, but disjointedly.
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5 people found this helpful