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The Courage to Act

A Memoir of a Crisis and Its Aftermath

Ben S. Bernanke

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Norton
02 May 2017
Autobiography: business & industry; Political structure & processes; Economics & Business; Economic theory & philosophy; Financial crises & disasters
In 2006, Ben S. Bernanke was appointed chairman of the Federal Reserve, capping a meteoric trajectory from a rural South Carolina childhood to professorships at Stanford and Princeton, to public service in Washington's halls of power. There would be no time to celebrate, however-the burst of the housing bubble in 2007 set off a domino effect that would bring the global financial system to the brink of meltdown.

In The Courage to Act, Ben Bernanke pulls back the curtain on the tireless and ultimately successful efforts to prevent a mass economic failure. Working with two US presidents and two Treasury secretaries, Bernanke and his colleagues used every Fed capability, no matter how arcane, to keep the US economy afloat. From his arrival in Washington in 2002 and his experiences before the crisis, to the intense days and weeks of the crisis itself, and through the Great Recession that followed, Bernanke gives readers an unequalled perspective on the American economy. This narrative will reveal for the first time how the creativity and decisiveness of a few key leaders prevented an economic collapse of unimaginable scale.

Bernanke explains the inspiration behind the book's title, saying, "When the economic well-being of their nation demanded a strong and creative response, my colleagues at the Federal Reserve, policymakers and staff alike, mustered the moral courage to do what was necessary, often in the face of bitter criticism and condemnation. I am grateful to all of them and proud to have been part of the global effort to contain the most dangerous economic crisis of our time."
By:   Ben S. Bernanke
Imprint:   Norton
Country of Publication:   United States
Dimensions:   Height: 208mm,  Width: 140mm,  Spine: 33mm
Weight:   518g
ISBN:   9780393353990
ISBN 10:   0393353990
Pages:   640
Publication Date:   02 May 2017
Audience:   General/trade ,  ELT Advanced
Format:   Paperback
Publisher's Status:   Active

Ben S. Bernanke served as chairman of the Federal Reserve from 2006 to 2014. He was named Time magazine's Person of the Year in 2009. Prior to his career in public service, he was a professor of economics at Princeton University.

Reviews for The Courage to Act: A Memoir of a Crisis and Its Aftermath

It was a happy chance that this scholar, known for his work on the Great Depression, was chairman of the central banking system of the US during the biggest financial crisis since the early 1930s. His [Bernanke's] new book, The Courage to Act, pr -- Martin Wolf, Lunch with the FT - Financial Times Bernanke's memoir is a crucial document of record that will be invaluable to future historians. As far as any memoir can be, it is an honest and accurate account. There is no hubris or exaggeration: simply a telling of the tale of the most dramatic period -- Mervyn King - Prospect The former chair has penned a lucid account of the crisis and its aftermath... Mr Bernanke's narrative of his time in office is a lucid, analytical affair... the book provides a robust defence of the Fed's response to the crisis. Mr Bernanke clearly sees hi -- The Economist Bernanke was at the helm of the world's most important central bank during the financial crisis of 2007-08... Here he gives a compelling account of what he and the Federal Reserve did and why they did it... the defence of the Fed against its critics is co -- Best Books of 2015 - Financial Times It was Ben Bernanke, not Gordon Brown, who steered us through the 2008 financial meltdown...the book's most interesting chapters are those that deal with the crisis...Above all, [Bernanke] exuded calm, even when there was plenty of inner turmoil. The calm -- The Sunday Times


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