Unlocking the Secrets of the Fed

Book excerpt: Written by America's most respected Fed watcher-Dr. David Jones-Unlocking the Secrets of the Fed gets inside the world of monetary and fiscal policymaking and explains how understanding and anticipating the actions of the Federal Reserve is critical to your investment success. This straightforward and well-rounded guide offers a wealth of practical information on the leading economic policy institution in the world-the Federal Reserve. This unique book: * Addresses the impact of Federal Reserve actions on the economy and the average American's wealth-creation potential * Closely examines the Fed's policy objectives, operating techniques, and favorite financial and economic indicators * Reviews the modern-day Fed's main challenges * Underscores the important role that psychology plays in our nation's economic expansions and contractions * Explains asset price bubbles and the implications for the economy * Assesses the performance of contemporary Fed leaders such as William McChesney Martin, Paul Volcker, and Alan Greenspan As one of the pioneers of "Fed watching," Dr. Jones knows all there is to know about the Federal Reserve. Take this opportunity to learn how the Federal Reserve's decisions affect your investments as well as the economy as a whole.