Download or read book The Global Trade Slowdown and Its Implications for Emerging Asia written by Board of Governors of the Federal Reserv and published by Createspace Independent Publishing Platform. This book was released on 2016-11-18 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy is at a critical juncture today. According to the International Monetary Fund's latest World Economic Outlook, global gross domestic product (GDP) is set to grow at only 3.1 percent this year, the lowest rate of growth since the Global Financial Crisis. Investment and productivity remain subdued, despite extremely low and even negative interest rates in many economies. One key aspect of global weakness that is of particular relevance to emerging Asian economies is the sharp slowdown in global trade. This slowdown represents a notable departure from the "normal" times of the past few decades, and is the subject of my remarks today.

Download or read book Trillion Dollar Triage written by Nick Timiraos and published by Hachette UK. This book was released on 2022-03-01 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: The inside story, told with “insight, perspective, and stellar reporting,” of how an unassuming civil servant created trillions of dollars from thin air, combatted a public health crisis, and saved the American economy from a second Great Depression (Alan S. Blinder, former Vice Chair of the Federal Reserve). By February 2020, the U.S. economic expansion had become the longest on record. Unemployment was plumbing half-century lows. Stock markets soared to new highs. One month later, the public health battle against a deadly virus had pushed the economy into the equivalent of a medically induced coma. America’s workplaces—offices, shops, malls, and factories—shuttered. Many of the nation’s largest employers and tens of thousands of small businesses faced ruin. Over 22 million American jobs were lost. The extreme uncertainty led to some of the largest daily drops ever in the stock market. Nick Timiraos, the Wall Street Journal’s chief economics correspondent, draws on extensive interviews to detail the tense meetings, late night phone calls, and crucial video conferences behind the largest, swiftest U.S. economic policy response since World War II. Trillion Dollar Triage goes inside the Federal Reserve, one of the country’s most important and least understood institutions, to chronicle how its plainspoken chairman, Jay Powell, unleashed an unprecedented monetary barrage to keep the economy on life support. With the bleeding stemmed, the Fed faced a new challenge: How to nurture a recovery without unleashing an inflation-fueling, bubble-blowing money bomb? Trillion Dollar Triage is the definitive, gripping history of a creative and unprecedented battle to shield the American economy from the twin threats of a public health disaster and economic crisis. Economic theory and policy will never be the same.

Download or read book Statements and Speeches of Jerome H Powell written by Jerome H. Powell and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Lords of Easy Money written by Christopher Leonard and published by Simon and Schuster. This book was released on 2022-01-11 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: NEW YORK TIMES BESTSELLER ​ The New York Times bestselling business journalist Christopher Leonard infiltrates one of America’s most mysterious institutions—the Federal Reserve—to show how its policies​ ​spearheaded by Chairman Jerome Powell over the past ten years have accelerated income inequality and put our country’s economic stability at risk. If you asked most people what forces led to today’s unprecedented income inequality and financial crashes, no one would say the Federal Reserve. For most of its history, the Fed has enjoyed the fawning adoration of the press. When the economy grew, it was credited to the Fed. When the economy imploded in 2008, the Fed got credit for rescuing us. But the Fed also has a unique power to reshape the American economy for the worse, which it did, fatefully, on November 4, 2010 through a radical intervention called quantitative easing. In just a few short years, the Fed more than quadrupled the money supply with one goal: to encourage banks and other investors to extend more risky debt. Leaders at the Fed knew that they were undertaking a bold experiment that would produce few real jobs, with long-term risks that were hard to measure. But the Fed proceeded anyway...and then found itself trapped. Once it printed all that money, there was no way to withdraw it from circulation. The Fed tried several times, only to see market start to crash, at which point the Fed turned the money spigot back on. That’s what it did when COVID hit, printing 300 years’ worth of money in two short months. Which brings us to now: Ten years on, the gap between the rich and poor has grown dramatically, stock prices are trading far above what’s justified by actual corporate profits, corporate debt in America is at an all-time high, and this debt is being traded by big banks on Wall Street, leaving them vulnerable—just as they were during the mortgage boom. Middle-class wages have barely budged in a decade, and consumers are buried under credit card debt, car loan debt, and student debt. The Lords of Easy Money tells the shocking, riveting tale of how quantitative easing is imperiling the American economy through the story of the one man who tried to warn us. This will be the first inside story of how we really got here—and why we face a frightening future.

Download or read book Jerome Powell written by Daniel Murphy and published by . This book was released on 2020 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: In February 2018, Jerome Powell had taken over as chair of the FOMC. At first glance, the macroeconomic conditions inherited by Powell appeared favorable for continued stability: unemployment and inflation were low, and the economy had been steadily growing for nearly a decade. Yet despite the appearance of stability, the economy faced significant risks that required the Federal Reserve's attention. Was an uptick in inflation imminent, and if so, should Powell raise rates to limit any inflationary pressure? Or was the economy still operating below capacity, and if so, should the Federal Reserve take a more accommodative stance? To gain perspective, Powell needed to look back at the past fifty years of monetary policy in the United States.ExcerptUVA-GEM-0165Rev. Nov. 11, 2019Jerome Powell: Navigating a New Course?In March 2019, Jerome Powell was preparing for the upcoming meeting of the Federal Open Market Committee (FOMC) of the Federal Reserve System (the Fed). Powell had been appointed the chair of the FOMC only a year ago to replace Janet Yellen, who had presided over a four-year period of economic growth and relative macroeconomic stability. Powell's comments following the FOMC meeting would be heavily scrutinized by many who were gauging whether Powell would continue the gradual increase in interest rates that began under Yellen or whether he would reverse course to help stimulate the economy.At first glance, the macroeconomic conditions inherited by Powell appeared favorable for continued stability: unemployment was near historic lows (Exhibit 1), inflation was below the Fed's target of 2% (Exhibit 2), and the economy had grown steadily for nearly a decade (Exhibit 3). Yet despite the appearance of stability, the economy faced significant risks that required the Fed's attention. Following the Great Recession, the Fed had embarked on an unprecedented increase in the monetary base, which contributed to fears of lurking inflation. Marty Feldstein, chair of the Council of Economic Advisors under President Ronald Reagan, articulated these concerns:Inflation is a risk, even if it is not inevitable. The large volume of reserves...makes that risk greater. It will take skill--as well as political courage--for the Fed to avoid the rise in inflation that the existing liquidity has created.

Download or read book Keeping At It written by Paul A Volcker and published by Hachette UK. This book was released on 2018-10-30 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: The extraordinary life story of the former chairman of the Federal Reserve, whose absolute integrity provides the inspiration we need as our constitutional system and political tradition are being tested to the breaking point. As chairman of the Federal Reserve (1979-1987), Paul Volcker slayed the inflation dragon that was consuming the American economy and restored the world's faith in central bankers. That extraordinary feat was just one pivotal episode in a decades-long career serving six presidents. Told with wit, humor, and down-to-earth erudition, the narrative of Volcker's career illuminates the changes that have taken place in American life, government, and the economy since World War II. He vibrantly illustrates the crises he managed alongside the world's leading politicians, central bankers, and financiers. Yet he first found his model for competent and ethical governance in his father, the town manager of Teaneck, NJ, who instilled Volcker's dedication to absolute integrity and his "three verities" of stable prices, sound finance, and good government.

Download or read book Nominations of Jerome H Powell and John Cunningham Dugan written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 1992 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Jerome Powell Trump And The Federal Reserve written by Bob Lester and published by Independently Published. This book was released on 2022-02-27 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Jerome Powell launched himself into rescuing the nation's economy from the jaws of the coronavirus recession with all guns blazing. Despite this, the White House mocked him. Peter Navarro said Powell had "probably the worst bedside manner of any Fed chairman in history. ... The old joke in the marketing thing is, if Jay Powell was going to market sushi, he'd sell it as cold, dead fish." The scathing remark came after Powell's remarks about the state of the US economy sent the stock market into a spiral. Even if people returned to work, he noted, the country was "still going to confront, presumably, a protracted time where many people would find it difficult to find work." His warning, along with coronavirus outbreaks across the country, triggered a stock market sell-off. Powell has undoubtedly suffered more humiliation as Fed chairman than he has in his entire career. In fact, no Fed head has ever received as much public scorn as Powell. President Trump, who nominated Powell, dubbed him an enemy of the state and a "fail," with "No 'guts, ' no sense, no vision! A terrible communicator!" He even mused, "Where did I find this guy Jerome?" Trump's main issue was that he was allergic to any increase in interest rates. The Fed, under Powell's leadership, had in 2018 increased interest rates by four times to prevent the economy from overheating. Powell mostly bore the White House insults in silence during trump's era. At almost every appearance, when journalists asked him about whether he felt under pressure, Powell always responded by saying he will not cave to political pressure. This book will inform you about the Federal Reserve Chairman's life as well as what truly transpired between him, Trump, and the Federal Reserve.

Download or read book The New Institutionalism in Organizational Analysis written by Walter W. Powell and published by University of Chicago Press. This book was released on 2012-09-21 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: Long a fruitful area of scrutiny for students of organizations, the study of institutions is undergoing a renaissance in contemporary social science. This volume offers, for the first time, both often-cited foundation works and the latest writings of scholars associated with the "institutional" approach to organization analysis. In their introduction, the editors discuss points of convergence and disagreement with institutionally oriented research in economics and political science, and locate the "institutional" approach in relation to major developments in contemporary sociological theory. Several chapters consolidate the theoretical advances of the past decade, identify and clarify the paradigm's key ambiguities, and push the theoretical agenda in novel ways by developing sophisticated arguments about the linkage between institutional patterns and forms of social structure. The empirical studies that follow—involving such diverse topics as mental health clinics, art museums, large corporations, civil-service systems, and national polities—illustrate the explanatory power of institutional theory in the analysis of organizational change. Required reading for anyone interested in the sociology of organizations, the volume should appeal to scholars concerned with culture, political institutions, and social change.

Download or read book Banning the Bomb Smashing the Patriarchy written by Ray Acheson and published by Rowman & Littlefield. This book was released on 2021-06-25 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banning the Bomb, Smashing the Patriarchy offers a look inside the antinuclear movement and its recent successful campaign to ban the bomb. From scrappy organizing to winning the Nobel Peace Prize in 2017 and achieving a landmark UN treaty banning nuclear weapons, this book narrates the journey of the International Campaign to Abolish Nuclear Weapons (ICAN) and developments in feminist disarmament activism. Acheson explains the process through which diplomats, activists, and nuclear survivors worked together to elevate the horrific humanitarian and environmental impacts of nuclear weapons, develop new international law categorically prohibiting the bomb, challenge the nuclear orthodoxy, and strengthen norms for disarmament and peace. Told from the perspective of a queer feminist antimilitarist organizer who was involved from the start of the process through to the treaty’s adoption, the book utilizes interviews with dozens of participants, as well as critical theoretical perspectives about transnational advocacy networks, discourse change, and intersectional feminist action. It is meant to provide useful insights for anyone trying to make change amidst structures of power and politics.

Download or read book Nomination of Jerome H Powell and Steven B Kelmar written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 1990 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Wall and the Bridge written by Glenn Hubbard and published by Yale University Press. This book was released on 2022 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt: An informed argument for an economic policy based on bridges of preparation and adaptation rather than walls of protection and exclusion "When technological change and globalization in recent decades brought frustration over the resulting losses to jobs and communities, there were no guardrails to get these workers back on track. As this compelling book shows, our nation is going to need bridges to help people get through the unavoidable transformations."--Edmund Phelps, 2006 Nobel Laureate in Economics and author of Mass Flourishing Free-market economists often have noted that there are winners and losers in a competitive capitalist world. The question of how to deal with the difficult real-life consequences faced by the losers, however, has largely been ignored. Populist politicians have tried repeatedly to address the issue by creating walls--of both the physical and economic kinds--to insulate communities and keep competition at bay. While recognizing the broad emotional appeal of walls, economist Glenn Hubbard argues that because they delay needed adaptations to the ever-changing world, walls are essentially backward-looking and ultimately destined to fail. Taking Adam Smith's logic to Youngstown, Ohio, as a case study in economic disruption, Hubbard promotes the benefits of an open economy and creating bridges to support people in turbulent times so that they remain engaged and prepared to participate in, and reap the rewards of, a new economic landscape.

Download or read book Contemporary Democracies written by G. Bingham POWELL and published by Harvard University Press. This book was released on 2009-06-30 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do some democracies succeed while others fail? In seeking an answer to this classic problem, G. Bingham Powell, Jr., examines the record of voter participation, government stability, and violence in 29 democracies during the 1960s and 1970s. The core of the book and its most distinguishing feature is the treatment of the role of political parties in mobilizing citizens and containing violence.

Download or read book 21st Century Monetary Policy The Federal Reserve from the Great Inflation to COVID 19 written by Ben S. Bernanke and published by W. W. Norton & Company. This book was released on 2022-05-17 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: 21st Century Monetary Policy takes readers inside the Federal Reserve, explaining what it does and why. In response to the COVID-19 pandemic, the Federal Reserve deployed an extraordinary range of policy tools that helped prevent the collapse of the financial system and the U.S. economy. Chair Jerome Powell and his colleagues lent directly to U.S. businesses, purchased trillions of dollars of government securities, pumped dollars into the international financial system, and crafted a new framework for monetary policy that emphasized job creation. These strategies would have astonished Powell’s late-20th-century predecessors, from William McChesney Martin to Alan Greenspan, and the advent of these tools raises new questions about the future landscape of economic policy. In 21st Century Monetary Policy, Ben S. Bernanke—former chair of the Federal Reserve and one of the world’s leading economists—explains the Fed’s evolution and speculates on its future. Taking a fresh look at the bank’s policymaking over the past seventy years, including his own time as chair, Bernanke shows how changes in the economy have driven the Fed’s innovations. He also lays out new challenges confronting the Fed, including the return of inflation, cryptocurrencies, increased risks of financial instability, and threats to its independence. Beyond explaining the central bank’s new policymaking tools, Bernanke also captures the drama of moments when so much hung on the Fed’s decisions, as well as the personalities and philosophies of those who led the institution.

Download or read book Jerome Powell s Approach to Economic Stability written by Leonard J Matthews and published by Independently Published. This book was released on 2023-12-25 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dive into the intricate world of monetary policy and economic stability with "Jerome Powell's Approach to Economic Stability." This insightful book offers a comprehensive exploration of the Federal Reserve Chairman's unique strategies and decision-making processes that have shaped the economic landscape. In the aftermath of the 2008 financial crisis, Jerome Powell took the helm of the Federal Reserve during a time of unprecedented economic challenges. With a steady hand and a forward-thinking approach, Powell navigated the complex terrain of interest rates, inflation, and unemployment to foster stability and growth. This book delves into the key principles that have guided Powell's tenure and the impact of his policies on the global economy. Readers will gain a deep understanding of Powell's commitment to transparency, data-driven decision-making, and adaptability in the face of evolving economic conditions. The book explores the delicate balance between stimulating economic growth and preventing the risks of inflation, providing readers with a nuanced perspective on Powell's strategies for maintaining stability. "Jerome Powell's Approach to Economic Stability" is not just a biography; it's a journey through the intricate web of economic theories and the practical challenges of steering the world's largest economy. Whether you are a seasoned economist, a student of finance, or a curious citizen seeking to understand the forces that shape our financial future, this book offers valuable insights into the mind of a central banker and the intricate dance of economic stability. As the global economic landscape continues to evolve, Jerome Powell's leadership at the Federal Reserve stands as a beacon of stability. This book invites readers to explore the man behind the policies and the far-reaching impact of his approach to economic stability in a world of constant change.

Download or read book Monetary Policy Report to the Congress 2009 written by Ben S. Bernanke and published by www.bnpublishing.com. This book was released on 2009-11 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Board of Governors is pleased to submit its Monetary Policy Report to the Congress pursuant to section 2B of the Federal Reserve Act. Sincerely, Ben Bernanke, Chairman Washington, D.C., July 21, 2009 Contents Overview: Monetary Policy and the Economic Outlook Recent Financial and Economic Developments Monetary Policy: Recent Developments and Outlook Summary of Economic Projections

Download or read book Nominations of Jerome H Powell Jeremy C Stein Jeremiah O Norton Richard B Berner and Christy Romero written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2013 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: