Monetary Policy in the 21st Century is the first book to discuss the history of fighting inflation and crises of the Fed (US Federal Reserve) – the agency that manages monetary policy. US currency.
The book was written by Ben S. Bernanke – who held the position of Chairman of the Fed from 2006 to 2014 and is one of the world’s leading economists.
In Vietnam, the work is published by Omega Plus, translated by Vu Hoang Linh and Son Pham.
Tell the story of money over 70 years 21st Century Monetary Policy offers an overview of the process Fed policymaking: changes in the economy have spurred innovations new challenges include: cryptocurrency inflation risks of financial instability and threats to government independence Fed.
In addition to explaining the new policy-making tools of the central banking system, the book also recounts the dramatic moments when the Fed’s decisions were guided by the philosophy of the Fed. once led this organization – has created many significant impacts.
Especially during the period of dealing with the Covid-19 pandemic, the Federal Reserve has deployed a series of key tools special policies to help prevent the collapse of the US financial system and economy.
Chairman Jerome Powell and his colleagues gave enterprise America borrowed directly to buy thousands billion dollars in securities The government pumps dollars into the international financial system and builds a new monetary policy framework that emphasizes job creation.
The four parts of the book are four important periods in the US economy:
Part 1 – The rise and fall of inflation : Discussing the Fed’s response strategies to the great inflation (60s-80s of the 20th century) and the boom period of 1990.
Part 2 – Crisis Global financial crisis and great recession: Discussing the challenges of the new millennium including: recession (2001), deflation (2003), global financial crisis (2007-2008) and great recession (2009).
Part 3 – From raising interest rates to the Covid-19 pandemic: Discussing the Fed’s strategy from after Bernanke (2014) to the Covid-19 pandemic.< /p>
This strategy includes policies to raise interest rates, neutral monetary policy, efforts to ensure the independence of the Fed and fluctuations under Jay Powell and a crisis response strategy during the pandemic.
Part 4 – The future ahead: Re-evaluating the tools that the Fed has applied and discussing new options and tools to build strong and effective policies strengthen the role of monetary policy in maintaining financial stability in terms of independence and the role of the Fed in society.
Assessments of success or failure and lessons in US monetary policy over the past 70 years from an expert like Ben S. Bernanke is valuable knowledge for policymakers and economic researchers around the world.
More So readers of Twenty-First Century Monetary Policy can learn leadership lessons in difficult situations about the choices that institutional drivers must make in the context of hard to guess.
Ben S. Bernanke, born in 1953, is an American economist and the 14th Chairman (2006-2014) of the US Federal Reserve.
Before that, Bernanke was a teacher. Full professor at Princeton University held the position of Chairman of the Department of Economics from 1996 to September 2002.
He is a co-winner of the 2022 Nobel Prize in Economics along with Douglas Diamond and Philip H. Dybvig for “research on banking and financial crises”.
In addition to 21st Century Monetary Policy his book The Courage to Act also translated into Vietnamese with the title Dare to Act (Alpha Books 2019).
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