Monetary Policy of the 21st Century. The Evolution of the Federal Reserve System from the Great Inflation to the COVID-19 Pandemic

Ben Bernanke — Nobel Prize winner in Economics 2022, Chairman of the Federal Reserve from 2006 to 2014, named 'Person of the Year' by Time magazine in 2009. The Great Inflation of the 1960s-70s, the global crisis of 2008, the COVID-19 pandemic of 2020-2022 — these are just a small part of the serious upheavals experienced by the United States. And despite this, their economy remains one of the strongest in the world. Why? Much of it is thanks to the actions of the Federal Reserve.

In his book, Bernanke explains the importance of many tools used by the heads of the Fed over nearly a century, and talks about: — the dramatic events in the economy during which much depended on the decisions of the Fed; — the people who headed the Federal Reserve and faced crises; — the challenges that await the Fed in the future, including the return of inflation, cryptocurrencies, and increased risks of financial instability.