"Populism, whether left or right, is short-termist. Central banking is about the long-term economic and political benefits of monetary system stability. Read this book to help make sense of the Fed's wobbles." - Sir Paul Tucker, Author, Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State, and former Deputy Governor, Bank of England "This book brings together some of the greatest thought leaders and monetary policy scholars to examine exactly how the Fed is being politicized and what that means for our economy." -Jeb Hensarling, Former Chairman, House Financial Services Committee "These beautifully written, jargon-free essays provide a much-needed and careful assessment of the Fed's future following the 2008 financial crisis and COVID-19. Both events created populist demands for a host of new discretionary actions. The challenge is to restore a Fed with more limited power that follows well-understood rules and procedures." -John B.

Taylor, Professor of Economics, Stanford University "This superb volume brings together a broad array of experts to probe key challenges facing the Federal Reserve today. The authors take stock of Fed power and performance in the wake of two global crises and offer excellent insights into economic, social, and political pressures that will continue to weigh heavily on the Fed in the years to come." -Sarah Binder, Senior Fellow, Brookings Institution.