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A Term at the Fed: An Insider's View
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Binding: PaperbackDewey Decimal Number: 332.110973 EAN: 9780060542719 ISBN: 0060542713 Label: Harper Paperbacks Manufacturer: Harper Paperbacks Number Of Items: 1 Number Of Pages: 288 Publication Date: January 01, 2006 Publisher: Harper Paperbacks Release Date: January 03, 2006 Studio: Harper Paperbacks Related Items:
Browse for similar items by category: Click to Display Editorial Review: Product Description: As a governor of the Federal Reserve Board from 1996 to 2002, Laurence H. Meyer helped make the economic policies that steered the United States through some of the wildest and most tumultuous times in its recent history. Now, in A Term at the Fed, Governor Meyer provides an insider's view of the Fed, the decisions that affected both the U.S. and world economies, and the challenges inherent in using monetary policy to guide the economy. When Governor Meyer was appointed by President Clinton to serve on the Federal Reserve Board of Governors in 1996, the United States was entering one of the most prosperous periods in its history. It was the time of "irrational exuberance" and the fabled New Economy. Soon, however, the economy was tested by the Asian financial crisis, the Russian default and devaluation, the collapse of Long-Term Capital Management, the bursting of America's stock bubble, and the terrorist attacks of 9/11. In what amounts to a definitive playbook of monetary policy, Meyer now relives the Fed's closed-door debates -- debates that questioned how monetary policy should adapt to the possibility of a New Economy, how the Fed should respond to soaring equity prices, and whether the Fed should broker the controversial private sector bailout of LTCM, among other issues. Meyer deftly weaves these issues with firsthand stories about the personalities involved, from Fed Chairman Alan Greenspan to the various staffers, governors, politicians, and reporters that populate the world of the Fed. Since the end of his term, Meyer has continued to watch the Fed and the world economy. He believes that we are witnessing a repetition of some of the events of the remarkable 1990s -- including a further acceleration in productivity and perhaps another bull market. History does not repeat itself, yet Meyer shows us how the lessons learned yesterday may help the Fed shape policy today. Average Rating:
 Rating:  - Book Review: "A Term At The Fed" by Laurence MeyerI have just finished reading A Term at the Fed: An Insider's View by Laurence A. Meyer, first published in 2004. There is not much to say about this book that other reviewers have not already said. I found it to be enjoyable and educational, though perhaps a little dry at times. Meyer is not a titan like Alan Greenspan, but more of a regular guy. He was a professor for almost 30 years in St. Louis before working as a Fed governor, and gives the point of view of a Washington outsider. I ... Read More Rating: - A Term at The Fed - An Insider's View by Laurence H. MeyerOn Money and Markets: A Wall Street Memoir; The Age of Turbulence: Adventures in a New World; In an Uncertain World: Tough Choices from Wall Street to Washington; What A President Should Know: An Insider's View on How to Succeed in the Oval Office "A Term at The Fed" by Laurence H. Meyer is a very educational and thought provoking book regarding the decision making processes at the Fed. Meyer readily admits that his thoughts did not always agree with thoughts of the other Fed Governors. The book ... Read More Rating: - Monetary PrimerA must for anyone interested in monetary policy. It stimulates an intense interest in the subject. Rating:  - Irrational exuberanceProductivity is the measure of the economic well being of society. Productivity is the maximum sustainable level of output of an economy without lowering the unemployment rate and triggering inflation. Leaps in productivity will raise wages in the long run, but not initially. This means that it is possible to have steady inflation at a lower unemployment rate. As a result in the short term increased productivity tends to lower the cost per unit of output and generally push prices down. Once wages ... Read More Rating:  - No tell-all page turner here!If you are looking for a tell-all confessional about the wild coke-filled parties that take place before meetings of the FOMC, this book will be sorely disappointing to you. But if you want to be reassured about the level of economic discourse at the meetings of the FOMC, you will also be disappointed. More than one academic economist has commented on the low level of economic discourse in Washington (see, for example, 'Peddling Prosperity' by Paul Krugman or 'The Roaring Nineties' by Joe Stiglitz). ... Read More 
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