The Road Ahead for the Fed: Hoover Institution Press Publication, cartea 574

A timely dialogue on the most important economic institution in the world.
The Federal Reserve is the single most important economic policy institution in the United States. Its recent unprecedented actions and interventions have raised serious concerns in many quarters about inflation, as well as the independence and effectiveness of the Fed. In The Road Ahead for the Fed, a group of expert contributors examine the recent actions of the Federal Reserve and discuss how the Fed arrived at this position, how it can best deal with the road ahead, and how it might reduce the likelihood of crisis-driven interventions in the future.

The authors suggest directions for the Fed going forward by drawing on past political, historical, and market principles. They then explain how the Fed arrived at its current unprecedented position and offer practical suggestions on how to exit. And although they concur that market-based mechanism and regulatory reforms will help keep the Fed on the road to good monetary policy in the future, they offer a range of views about whether to emphasize markets or government reform.