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The Fed's Broken Gas Pedal: Crisis & Control (Ben S. Bernanke)
You press the gas pedal. The engine roars. But the car doesn't speed up. This is the nightmare scenario facing the Federal Reserve in the modern era.
In today's briefing, we deconstruct Ben Bernanke's 21st Century Monetary Policy. We explore the massive regime change from the "Great Inflation" of the 1970s to the "Great Stagnation" of today. From Paul Volcker’s brutal "Saturday Night Special" to the invention of Quantitative Easing, we reveal why monetary policy is actually 90% psychology and how the Fed reinvented the steering wheel while the car was moving.
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The skinny
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