Trillion Dollar Triage
How Jay Powell and the Fed Battled a President and a Pandemic---and Prevented Economic Disaster
by:
Nick Timiraos
in:
Economics
Summary:
The book provides an in-depth look at the actions taken by the Federal Reserve under the leadership of Jerome Powell during the unprecedented economic challenges posed by the COVID-19 pandemic. It details the Fed's strategies to stabilize the economy, including clashes with the Trump administration and the deployment of massive financial interventions to prevent a potential economic collapse.
Key points:
1. Fed Independence: The book stresses the importance of the Federal Reserve's independence, especially during President Trump's criticism. This autonomy was key during the pandemic crisis.
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