Includes index.

Includes bibliographical references and index.

"In this book, economist Leonard Santow casts a steely eye on the Fed and its five most recent chairmen - Arthur Burns, G. William Miller, Paul Volcker, Alan Greenspan, and Ben Bernanke. Along the way, readers learn what function the Fed performs and why, how monetary policy differs from fiscal policy, which levers the Fed uses to change the money supply and control inflation, and more." "This is one of the few books to explain the inner workings of the Fed and its Open Market Operations, while evaluating its most recent chiefs in their efforts to keep inflation at bay and the economy humming. Written in an easy and accessible style, the book also contains some prescriptions for smoothing the choppy economic seas going forward, as well as insights on the subprime mess and the securities that helped bring down the real estate house of cards."--Jacket.

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