Theinsidestory,toldwith“insight,perspective,andstellarreporting,“ofhowanunassumingcivilservantcreatedtrillionsofdollarsfromthinair,combattedapublichealthcrisis,andsavedtheAmericaneconomyfromasecondGreatDepression(AlanS.Blinder,formerViceChairoftheFederalReserve).ByFebruary2020,theU.S.economicexpansionhadbecomethelongestonrecord.Unemploymentwasplumbinghalf-centurylows.Stockmarketssoaredtonewhighs.Onemonthlater,thepublichealthbattleagainstadeadlyvirushadpushedtheeconomyintotheequivalentofamedicallyinducedcoma.America’sworkplaces--offices,shops,malls,andfactories--shuttered.Manyofthenation’slargestemployersandtensofthousandsofsmallbusinessesfacedruin.Over22millionAmericanjobswerelost.Theextremeuncertaintyledtosomeofthelargestdailydropseverinthestockmarket.NickTimiraos,theWallStreetJournal’schiefeconomicscorrespondent,drawsonextensiveinterviewstodetailthetensemeetings,latenightphonecalls,andcrucialvideoconferencesbehindthelargest,swiftestU.S.economicpolicyresponsesinceWorldWarII.TrillionDollarTriagegoesinsidetheFederalReserve,oneofthecountry’smostimportantandleastunderstoodinstitutions,tochroniclehowitsplainspokenchairman,JayPowell,unleashedanunprecedentedmonetarybarragetokeeptheeconomyonlifesupport.Withthebleedingstemmed,theFedfacedanewchallenge:Howtonurturearecoverywithoutunleashinganinflation-fueling,bubble-blowingmoneybomb?TrillionDollarTriageisthedefinitive,grippinghistoryofacreativeandunprecedentedbattletoshieldtheAmericaneconomyfromthetwinthreatsofapublichealthdisasterandeconomiccrisis.Economictheoryandpolicywillneverbethesame.
SHUTTERED INSIGHT AMERICA BUBBLE DOLLAR malls shops
