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A review by jasonfurman
Trillion Dollar Triage: How Jay Powell and the Fed Battled a President and a Pandemic---andPrevented Economic Disaster by Nick Timiraos, Nick Timiraos
5.0
From my Washington Post book review:
Nick Timiraos wrote the first draft of this remarkable history as the chief economics correspondent for the Wall Street Journal and now has followed up with “Trillion Dollar Triage: How Jay Powell and the Fed Battled a President and a Pandemic — and Prevented Economic Disaster.”
The book’s strength lies in its detailed original reporting and the fast-paced narrative of the harrowing month that the Fed spent nearly unilaterally preventing a financial catastrophe as the coronavirus was taking off in 2020. Embedded in the tale is a careful accounting of the economic and financial implications of the Fed’s actions. Timiraos takes the story into 2021 and the fallout from the Fed’s subsequent decisions that contributed to the highest inflation in four decades. The author conducted more than 100 interviews. (I spoke with Timiraos, who sought my perspective as an economist who had helped craft President Barack Obama’s response to the 2008 economic crisis and my view of one congressional meeting where I delivered remarks.)
Read the full review here: https://www.washingtonpost.com/outlook/2022/04/01/inside-feds-frantic-efforts-save-economy-pandemic/
Nick Timiraos wrote the first draft of this remarkable history as the chief economics correspondent for the Wall Street Journal and now has followed up with “Trillion Dollar Triage: How Jay Powell and the Fed Battled a President and a Pandemic — and Prevented Economic Disaster.”
The book’s strength lies in its detailed original reporting and the fast-paced narrative of the harrowing month that the Fed spent nearly unilaterally preventing a financial catastrophe as the coronavirus was taking off in 2020. Embedded in the tale is a careful accounting of the economic and financial implications of the Fed’s actions. Timiraos takes the story into 2021 and the fallout from the Fed’s subsequent decisions that contributed to the highest inflation in four decades. The author conducted more than 100 interviews. (I spoke with Timiraos, who sought my perspective as an economist who had helped craft President Barack Obama’s response to the 2008 economic crisis and my view of one congressional meeting where I delivered remarks.)
Read the full review here: https://www.washingtonpost.com/outlook/2022/04/01/inside-feds-frantic-efforts-save-economy-pandemic/