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Do They Walk on Water?: Federal Reserve Chairmen and the Fed
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Do They Walk on Water?: Federal Reserve Chairmen and the Fed
360Hardcover
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Overview
Product Details
ISBN-13: | 9780313360336 |
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Publisher: | Bloomsbury Academic |
Publication date: | 11/30/2008 |
Pages: | 360 |
Product dimensions: | 6.30(w) x 9.40(h) x 1.50(d) |
About the Author
What People are Saying About This
William N. Griggs
"I have witnessed daily the analytical skills, intelligence and good judgment that Santow brings to every task. These qualities are on full display in this unique historical examination of fifty years of Fed policy focused on the Fed chairmen who shaped those policies. Here in clear and concise language is an unbiased examination of how a group of the most powerful individuals in this country used that power to meet the economic and financial challenges facing the nation."
William N. Griggs, Ph.D.,
Griggs & Santow, Inc.
"The current deep recession, the unforeseen financial problems, and the related deflation, make us wonder what kind of Federal Reserve System will improve our economy, and when. In this age of serious financial problems, we welcome Leonard Santow's latest contribution to their clarification. The former economic director of the Federal Reserve Bank of Dallas, analyzes in great detail, the monetary policies pursued by the most recent Federal Reserve chairman in order to solve the problems of their time. He makes clear the consequences of these decisions and their impact on the economy.
As a former chief economist of the General Electric company, I would have prayed for this kind of monetary book in order to forecast the nature and timing of future Federal Reserve policies and the economic changes they would have produced.
In addition, the appended glossary makes this volume useful to students and business people who may not have a financial or economic background."
"Do They Walk on Water? is an unusual book written, not only with post-fact criticism, but also with many real-time comments from the time of historical events. Clearly and pointedly, the author repeats his warning against the Fed's overemphasis on CPI rather than market conditions and real economy; its over-reliance on federal-funds-rate targeting rather than other monetary policy instruments; and its insufficient attention to regulatory problems. The comparison of Volcker and Greenspan is interesting, and the detailed analysis of the current financial market turmoil is extremely informative. With the attached glossary and the chronological records of events since 1970, the book will be quite useful not only for professionals, but also for students in and outside the United States."
Walter K. Joelson
"The current deep recession, the unforeseen financial problems, and the related deflation, make us wonder what kind of Federal Reserve System will improve our economy, and when. In this age of serious financial problems, we welcome Leonard Santow's latest contribution to their clarification. The former economic director of the Federal Reserve Bank of Dallas, analyzes in great detail, the monetary policies pursued by the most recent Federal Reserve chairman in order to solve the problems of their time. He makes clear the consequences of these decisions and their impact on the economy.
As a former chief economist of the General Electric company, I would have prayed for this kind of monetary book in order to forecast the nature and timing of future Federal Reserve policies and the economic changes they would have produced.
In addition, the appended glossary makes this volume useful to students and business people who may not have a financial or economic background."
"Do They Walk on Water? is an extraordinary book on monetary policy by an extraordinary economist. It is historical, factual-and judgmental. There are surprises here for all readers, from layman to expert and everyone in-between. The author draws on long experience in the Federal Reserve, in the securities markets, and as a consultant to foreign central banks as well as the U.S. Treasury and major financial institutions. This gives him an unmatched breadth of perspective spanning many decades."
Shijuro Ogata
"Do They Walk on Water? is an unusual book written, not only with post-fact criticism, but also with many real-time comments from the time of historical events. Clearly and pointedly, the author repeats his warning against the Fed's overemphasis on CPI rather than market conditions and real economy; its over-reliance on federal-funds-rate targeting rather than other monetary policy instruments; and its insufficient attention to regulatory problems. The comparison of Volcker and Greenspan is interesting, and the detailed analysis of the current financial market turmoil is extremely informative. With the attached glossary and the chronological records of events since 1970, the book will be quite useful not only for professionals, but also for students in and outside the United States."
Shijuro Ogata,
Former Deputy Governor for International Relations, Bank of Japan
"I have witnessed daily the analytical skills, intelligence and good judgment that Santow brings to every task. These qualities are on full display in this unique historical examination of fifty years of Fed policy focused on the Fed chairmen who shaped those policies. Here in clear and concise language is an unbiased examination of how a group of the most powerful individuals in this country used that power to meet the economic and financial challenges facing the nation."
Albert M. Wojnilower
"Do They Walk on Water? is an extraordinary book on monetary policy by an extraordinary economist. It is historical, factual-and judgmental. There are surprises here for all readers, from layman to expert and everyone in-between. The author draws on long experience in the Federal Reserve, in the securities markets, and as a consultant to foreign central banks as well as the U.S. Treasury and major financial institutions. This gives him an unmatched breadth of perspective spanning many decades."
Albert M. Wojnilower, Ph.D.,
Consultant and former Chief Economist, First Boston Corporation