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Author: Nick Timiraos Publisher: Little, Brown ISBN: 0316273074 Category : Social Science Languages : en Pages : 331
Book Description
The inside story, told with “insight, perspective, and stellar reporting,” of how an unassuming civil servant created trillions of dollars from thin air, combatted a public health crisis, and saved the American economy from a second Great Depression (Alan S. Blinder, former Vice Chair of the Federal Reserve). By February 2020, the U.S. economic expansion had become the longest on record. Unemployment was plumbing half-century lows. Stock markets soared to new highs. One month later, the public health battle against a deadly virus had pushed the economy into the equivalent of a medically induced coma. America’s workplaces—offices, shops, malls, and factories—shuttered. Many of the nation’s largest employers and tens of thousands of small businesses faced ruin. Over 22 million American jobs were lost. The extreme uncertainty led to some of the largest daily drops ever in the stock market. Nick Timiraos, the Wall Street Journal’s chief economics correspondent, draws on extensive interviews to detail the tense meetings, late night phone calls, and crucial video conferences behind the largest, swiftest U.S. economic policy response since World War II. Trillion Dollar Triage goes inside the Federal Reserve, one of the country’s most important and least understood institutions, to chronicle how its plainspoken chairman, Jay Powell, unleashed an unprecedented monetary barrage to keep the economy on life support. With the bleeding stemmed, the Fed faced a new challenge: How to nurture a recovery without unleashing an inflation-fueling, bubble-blowing money bomb? Trillion Dollar Triage is the definitive, gripping history of a creative and unprecedented battle to shield the American economy from the twin threats of a public health disaster and economic crisis. Economic theory and policy will never be the same.
Author: Nick Timiraos Publisher: Little, Brown ISBN: 0316273074 Category : Social Science Languages : en Pages : 331
Book Description
The inside story, told with “insight, perspective, and stellar reporting,” of how an unassuming civil servant created trillions of dollars from thin air, combatted a public health crisis, and saved the American economy from a second Great Depression (Alan S. Blinder, former Vice Chair of the Federal Reserve). By February 2020, the U.S. economic expansion had become the longest on record. Unemployment was plumbing half-century lows. Stock markets soared to new highs. One month later, the public health battle against a deadly virus had pushed the economy into the equivalent of a medically induced coma. America’s workplaces—offices, shops, malls, and factories—shuttered. Many of the nation’s largest employers and tens of thousands of small businesses faced ruin. Over 22 million American jobs were lost. The extreme uncertainty led to some of the largest daily drops ever in the stock market. Nick Timiraos, the Wall Street Journal’s chief economics correspondent, draws on extensive interviews to detail the tense meetings, late night phone calls, and crucial video conferences behind the largest, swiftest U.S. economic policy response since World War II. Trillion Dollar Triage goes inside the Federal Reserve, one of the country’s most important and least understood institutions, to chronicle how its plainspoken chairman, Jay Powell, unleashed an unprecedented monetary barrage to keep the economy on life support. With the bleeding stemmed, the Fed faced a new challenge: How to nurture a recovery without unleashing an inflation-fueling, bubble-blowing money bomb? Trillion Dollar Triage is the definitive, gripping history of a creative and unprecedented battle to shield the American economy from the twin threats of a public health disaster and economic crisis. Economic theory and policy will never be the same.
Author: John Feffer Publisher: Seven Stories Press ISBN: 9781583226032 Category : History Languages : en Pages : 204
Book Description
The Korean peninsula, divided for more than fifty years, is stuck in a time warp. Millions of troops face one another along the Demilitarized Zone separating communist North Korea and capitalist South Korea. In the early 1990s and again in 2002-2003, the United States and its allies have gone to the brink of war with North Korea. Misinterpretations and misunderstandings are fueling the crisis. "There is no country of comparable significance concerning which so many people are ignorant," American anthropologist Cornelius Osgood said of Korea some time ago. This ignorance may soon have fatal consequences. North Korea, South Korea is a short, accessible book about the history and political complexites of the Korean peninsula, one that explores practical alternatives to the current US policy: alternatives that build on the remarkable and historic path of reconciliation that North and South embarked on in the 1990s and that point the way to eventual reunification.
Author: John Withington Publisher: Skyhorse Publishing Inc. ISBN: 160239749X Category : History Languages : en Pages : 401
Book Description
Explores numerous environment, biological, and man-mad disasters, from Noah's flood and a hailstorm that killed 246 people to the Black Death and twentieth-century genocides.
Author: Paul A Volcker Publisher: Hachette UK ISBN: 154178829X Category : Biography & Autobiography Languages : en Pages : 322
Book Description
The extraordinary life story of the former chairman of the Federal Reserve, whose absolute integrity provides the inspiration we need as our constitutional system and political tradition are being tested to the breaking point. As chairman of the Federal Reserve (1979-1987), Paul Volcker slayed the inflation dragon that was consuming the American economy and restored the world's faith in central bankers. That extraordinary feat was just one pivotal episode in a decades-long career serving six presidents. Told with wit, humor, and down-to-earth erudition, the narrative of Volcker's career illuminates the changes that have taken place in American life, government, and the economy since World War II. He vibrantly illustrates the crises he managed alongside the world's leading politicians, central bankers, and financiers. Yet he first found his model for competent and ethical governance in his father, the town manager of Teaneck, NJ, who instilled Volcker's dedication to absolute integrity and his "three verities" of stable prices, sound finance, and good government.
Author: Dambisa Moyo Publisher: Macmillan ISBN: 0374139563 Category : Business & Economics Languages : en Pages : 209
Book Description
Debunking the current model of international aid promoted by both Hollywood celebrities and policy makers, Moyo offers a bold new road map for financing development of the world's poorest countries.
Author: Everest Media, Publisher: Everest Media LLC ISBN: 166939204X Category : Business & Economics Languages : en Pages : 54
Book Description
Please note: This is a companion version & not the original book. Sample Book Insights: #1 Jay Powell, who would later become the chairman of the Federal Reserve, was born in Washington D. C. in 1945. His family were among the first Catholics to join the prestigious Chevy Chase Club, where his father was president. He learned from his father how to measure his words carefully. #2 Brady, who had been Reagan's secretary of the Treasury, hired Powell to be his assistant secretary. Powell then called up his old Wall Street law firm, Davis Polk Wardwell, and asked for a hardworking assistant. They recommended a thirty-three-year-old Ivy League lawyer named Randal Quarles. #3 In early 1991, Powell was tasked with dealing with the Bank of New England, a regional bank on the brink of failure as a result of the recent collapse of the commercial and residential real-estate markets. The immediate stakes were not catastrophic, but the basic questions were the same as when a Citigroup or Lehman Brothers was courting insolvency: should the government let market forces wash away poorly managed institutions. #4 In 1991, Powell was tasked with deciding the fate of Wall Street giant Salomon Brothers. The company had been cornering the market for two-year Treasury notes, which they could then force dealers to buy back from them at higher prices.
Author: Martin S. Fridson Publisher: John Wiley & Sons ISBN: 9780471174004 Category : Business & Economics Languages : en Pages : 284
Book Description
Bisweilen schießen die Finanzmärkte entgegen allen Erwartungen in die Höhe und verschaffen den Investoren so überdurchschnittlich hohe Renditen von 35% und mehr in einem einzigen Jahr. Einmal ist es der Aktienmarkt, dann der Rentenmarkt oder der Immobilienmarkt. Dies ist das erste Buch, das den Versuch unternimmt, zu erklären, warum bestimmte Investitionen zu verschiedenen Zeiten in die Höhe geschnellt sind, damit Investoren ähnliche Trends in Zukunft rechtzeitig erkennen können. Jedes Kapitel vermittelt dem Leser einen echten Einblick in die Ereignisse der 10 besten Hausse-Jahre des vergangenen Jahrhunderts. Unterhaltsam und fesselnd geschrieben, gespickt mit zahlreichen historischen Anekdoten und schillernden Persönlichkeiten aus der jeweiligen Zeit, ist dieses Buch eine willkommene Lektüre nicht nur für Investoren, Finanzexperten, Journalisten und Studenten der Finanz- und Wirtschaftswissenschaften, sondern ebenso für Interessierte Laien. (01/98)
Author: Robert D. Bullard Publisher: Routledge ISBN: 0429977484 Category : Social Science Languages : en Pages : 216
Book Description
On August 29, 2005, Hurricane Katrina made landfall near New Orleans leaving death and destruction across the Louisiana, Mississippi, and Alabama Gulf Coast counties. The lethargic and inept emergency response that followed exposed institutional flaws, poor planning, and false assumptions that are built into the emergency response and homeland security plans and programs. Questions linger: What went wrong? Can it happen again? Is our government equipped to plan for, mitigate, respond to, and recover from natural and manmade disasters? Can the public trust government response to be fair? Does race matter? Racial disparities exist in disaster response, cleanup, rebuilding, reconstruction, and recovery. Race plays out in natural disaster survivors' ability to rebuild, replace infrastructure, obtain loans, and locate temporary and permanent housing. Generally, low-income and people of color disaster victims spend more time in temporary housing, shelters, trailers, mobile homes, and hotels - and are more vulnerable to permanent displacement. Some 'temporary' homes have not proved to be that temporary. In exploring the geography of vulnerability, this book asks why some communities get left behind economically, spatially, and physically before and after disasters strike.