Trillion Dollar Triage: How Jay Powell and the Fed Battled a President and a à prix réduit

Product Name: Trillion Dollar Triage: How Jay Powell and the Fed Battled a President and a à prix réduit
EAN：9780316272810 UPC：9780316272810 ISBN：9780316272810 MPN：N/A Format：Hardback, 352 pages
By February 2020, the U.S. economic expansion had become the à prix réduit 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. Americas workplaces-offices, shops, malls, and factories-shuttered. Many of the nations 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 Journals 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 countrys 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..