The Road Ahead for the Fed

Overview

Expert contributors examine the recent actions of the Federal Reserve and suggest directions for the Fed going forward by drawing on past political, historical, and market principles. They explain how the Fed arrived at its current position, offer ideas on how to exit the situation, and propose new market-based reforms that can help keep the Fed on the road to good monetary policy in the future.

Reviews

"A broken financial system; a great recession; enormous challenges for The Federal Reserve. Financial institutions, the markets and the Fed itself will never be quite the same. John Taylor and John Ciorciari have brought together a highly knowledgeable and experienced group to analyze the issues and make useful and provocative proposals. The Road Ahead for the Fed couldn't be more timely." â€â€Paul A. Volcker, Former Chairman of the Federal Reserve Board Chairman of the President's Economic Recovery Advisory Board

"With so much at stake for the Fed and the world's financial markets, this timely and thoughtful book is a must read. Twelve leading experts critically analyze and candidly debate the most crucial issues facing the Fed, from the need for an exit strategy to incentive-based market reforms. Economic policy makers should take their ideas and recommendations under advisement." â€â€Mickey D. Levy, Chief Economist, Bank of America

"This is a book both to read and to keep on your bookshelf. You will find essays here that will make you smile in agreement and shake your head in disagreement, perhaps both, for the authors are not only smart, but opinionated. But this is a distinguished group, and their opinions are very well-informed, very much worth reading, and very timely." â€â€Alan S. Blinder, Former Vice-Chairman of the Federal Reserve Board Professor of Economics at Princeton University

Author Biography

John B. Taylor is the Bowen H. and Janice Arthur McCoy Senior Fellow at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University.John D. Ciorciari is an assistant professor at the Gerald R. Ford School of Public Policy at the University of Michigan.