The Federal Reserve

Name: The Federal Reserve
ISBN: 9787505731752

威廉·格雷德 / 耿丹China Friendship Publishing Company · ChinaJan 2026

4.5

Word count: 641K words
Chapters: 28
ISBN: 9787505731752

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Summary

Is the Fed private? Is it government? The Fed is a strange hybrid: part of the federal government, yet carefully insulated from the electoral process—a revolving door between Washington and Wall Street. As capital's political advocate and regulator, it decides who will be poor and who will be rich. This groundbreaking bestseller chronicles Paul Volcker's eight years as Fed chairman, when he forcefully reversed America's fate of being devoured by inflation and laid the foundation of the world economy as we know it. Drawing on extensive interviews with top economic players, the book offers the first in-depth look at this secretive institution that is in some respects more confidential than the CIA and more powerful than the president and Congress. A classic yet accessible work that lets you easily grasp real-world economics. Are Wall Street's financial titans the enemies of ordinary people? What financial dynamics do they follow? Why is money a mysterious psychological manipulation that affects everyone? How do central banks influence the national economic system, and why can the Fed hold the reins of the global economy? What principles do government agencies follow in their tug-of-war with capital markets? The Fed is a book that helps you understand how real-world economics actually works.

Editor's review

Taking Paul Volcker's eight years at the helm of the Federal Reserve as its main thread, this book recounts how the United States reversed runaway inflation and thereby established the monetary foundation on which the world economy has operated for a long period since. Its value lies not in cataloguing economic jargon but in placing the Fed back in its real position between Washington and Wall Street: nominally independent of the electoral process, yet deeply embedded in the dual contest of politics and capital. Drawing on extensive interviews with top economic players, the author shows how decision-makers weighed, compromised, and held their ground under pressure, letting readers see the people and institutions behind monetary policy rather than abstract curves. The writing is accessible; readers without an economics background can follow the narrative while grasping the basic logic by which a central bank influences the national economic system and, in turn, global capital flows. It serves as an introductory read for understanding the modern monetary system and the international financial landscape, and as companion reading when following news on inflation, interest rates, and central bank policy. Note that the book's views reflect the author's stance; readers should keep a critical eye and treat it as a window into how one institution operates, not as the only conclusion.

Who it's for

A good fit for

General readers interested in macroeconomics, monetary policy, and central bank operations who want an introduction to real-world economics
Investors and finance professionals following news on inflation, interest rates, and Fed policy who want to understand its institutional context
Students of economics, finance, and public administration seeking case-based supplementary reading beyond the classroom
Readers of narrative nonfiction who prefer institutional analysis told through people and decision stories

Not a good fit for

Readers seeking a systematic study of economic theory or a textbook-style knowledge framework
Hands-on investors looking for specific investment strategies or trading methods
Readers expecting a complete history of the Fed covering every chairman and all major events

Reading tips

Clarify the inflation background and timeline around Volcker's tenure before entering the narrative of people and decisions; it will read more smoothly
Jot down monetary policy terms as you go and look them up—don't try to understand every mechanism in one pass
Read the book's discussion of Fed independence alongside current central bank news to train your own judgment
After finishing, review the book's core arguments on the government-market relationship and distinguish factual narrative from the author's views

About the publisher

China Friendship Publishing Company China · Founded in 1983

China Friendship Publishing Company is a comprehensive publisher known for its literary titles, covering classical Chinese literature, foreign literature, folk literature and cultural appreciation. According to the books in the database, its classical list includes celebrated dramas and novels such as The Peony Pavilion, The Romance of the Western Chamber and Strange Tales from a Chinese Studio, as well as note-style classics like Hong Mai's Rongzhai Suibi. In foreign literature it offers translations of Dostoevsky's Crime and Punishment, Kawabata Yasunari's Snow Country and Anne Frank's The Diary of a Young Girl, involving translators such as Zeng Siyi. It also publishes The Complete Literary Works of Lu Xun and titles associated with the "Xue'er Shuguan" editorial group, balancing the collation and popularization of classic texts. Public information on its publishing features and plans is limited; the above is summarized only from the books in the database.

版权信息
第一部分资本代言人：揭开世界央行的神秘面纱
第1章华尔街打了总统一个巴掌
第2章美联储是个十足的怪胎
第3章 “一小撮”货币主义者
第4章改革让倒霉蛋雪上加霜
第5章资本主义战胜了宗教道德
第6章意外的经济崩溃
第二部分货币的本质：荒诞又合理的心理操纵术
第7章货币无罪却洗不干净
第8章该死的银行：谁应该管理美国经济
第9章美联储：资本家与政客的巨大妥协
第10章央行的职责——逆风飞扬
第三部分改革的代价：被牺牲的人
第11章美联储主席和总统打擂台
第12章萧条是对畸形繁荣的惩罚
第13章被牺牲的都是穷人
第14章在经济衰退之前急转弯
第四部分兜售繁荣
第15章赤字与利率的战争：分裂政府的政治奇观
第16章贫富分化加剧，谁之过？
第17章 “美国的又一个早晨”
第18章货币的胜利
附录A 美国物价历史数据
附录B 美国历年货币利率和经济指标对照表
附录C 联邦公开委员会会议记录
参考注释
鸣谢

FAQ

Can I understand this book without an economics background?

Yes. The book moves through people and decision stories with a low density of jargon and accessible narration. Before reading, spend a little time on basic concepts such as inflation, interest rates, and central banks, and look up technical terms as they come up; you'll be able to follow the main thread without giving up over an occasional term.

Is this a complete history of the Federal Reserve?

No. The book centers on Paul Volcker's eight years as Fed chairman, focusing on America's exit from inflation and its aftermath. It is a focused institutional portrait, not a general history covering every chairman and all major events. Readers who want the full picture will need to consult other sources.

Are the book's views objective and neutral?

The author builds the narrative on extensive interviews and rich material, but the judgments about the Fed's relationship with the government and Wall Street carry a personal stance. Treat it as a window into how one institution operates, keep questioning key conclusions, and cross-read with other sources to form your own judgment.

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About the author

威廉·格雷德 Author

William Greider is represented in this Chinese book database by a single title, the finance book The Federal Reserve. Beyond that, public information about this author is limited: his nationality, dates of birth and death, education, and professional career are not confirmed, and no existing profile is available in the database, so no biographical speculation is offered here. Judging from the work at hand, Greider writes on professional subjects such as financial institutions and the workings of money, placing him in the field of finance writing, where complex economic mechanisms must be translated into narratives that general readers can follow. Authors of this kind usually rely on documentary research and institutional analysis rather than personal experience, and their value lies in their command of the subject and the readability of their prose. For readers, the most direct way to understand Greider is still to read The Federal Reserve itself and observe its focus and narrative style.

耿丹 Author

Geng Dan is an author with limited publicly available information, and little about this person can be confirmed so far. Their writing centers mainly on two subjects: finance and health. Two works are included in the collection: The Federal Reserve, which addresses finance and monetary policy, and Chopra on Ayurveda: The Natural Mind-Body Therapy Popular in Europe and America, Embraced by Political and Business Leaders, Tech Elites, and Celebrities, which introduces Ayurvedic mind-body therapy. Judging from these two books, Geng Dan's writing spans economic and financial topics as well as natural health, with subjects close to everyday life. The works respond both to general readers' interest in macroeconomic and financial knowledge and to the popularity of mind-body care and natural therapies among contemporary urban audiences. Aimed at a general readership, they tend toward knowledge popularization and practical reference. As birth and death dates, nationality, and educational background are not publicly recorded, no inferences are made here; this introduction is based solely on the available information about the works.