
The Power and Independence of the Federal Reserve
Failed to add items
Add to Cart failed.
Add to Wish List failed.
Remove from wishlist failed.
Adding to library failed
Follow podcast failed
Unfollow podcast failed
$0.99/mo for the first 3 months

Buy for $24.95
No default payment method selected.
We are sorry. We are not allowed to sell this product with the selected payment method
-
Narrated by:
-
Brian Holsopple
About this listen
The independence of the Federal Reserve is considered a cornerstone of its identity, crucial for keeping monetary policy decisions free of electoral politics. But do we really understand what is meant by "Federal Reserve independence"?
Using scores of examples from the Fed's rich history, The Power and Independence of the Federal Reserve shows that much common wisdom about the nation's central bank is inaccurate. Legal scholar and financial historian Peter Conti-Brown provides an in-depth look at the Fed's place in government, its internal governance structure, and its relationships to such individuals and groups as the president, Congress, economists, and bankers.
Exploring how the Fed regulates the global economy and handles its own internal politics, and how the law does - and does not - define the Fed's power, Conti-Brown captures and clarifies the central bank's defining complexities. He examines the foundations of the Federal Reserve Act of 1913, which established a system of central banks, and the ways that subsequent generations have redefined the organization. Challenging the notion that the Fed Chair controls the organization as an all-powerful technocrat, he explains how institutions and individuals - within and outside of government - shape Fed policy. Conti-Brown demonstrates that the evolving mission of the Fed - including systemic risk regulation, wider bank supervision, and as a guardian against inflation and deflation - requires a reevaluation of the very way the nation's central bank is structured.
Investigating how the Fed influences and is influenced by ideologies, personalities, law, and history, The Power and Independence of the Federal Reserve offers a clear picture of this uniquely important institution.
©2016 Princeton University Press (P)2016 Audible, Inc.Listeners also enjoyed...
-
America's Bank
- The Epic Struggle to Create the Federal Reserve
- By: Roger Lowenstein
- Narrated by: Robertson Dean
- Length: 9 hrs and 39 mins
- Unabridged
-
Overall
-
Performance
-
Story
A tour de force of historical reportage, America’s Bank illuminates the tumultuous era and remarkable personalities that spurred the unlikely birth of America’s modern central bank, the Federal Reserve. Today, the Fed is the bedrock of the financial landscape, yet the fight to create it was so protracted and divisive that it seems a small miracle that it was ever established. For nearly a century, America, alone among developed nations, refused to consider any central or organizing agency in its financial system.
-
-
Important and Intriguing
- By Jean on 11-02-15
By: Roger Lowenstein
-
The Lords of Easy Money
- How the Federal Reserve Broke the American Economy
- By: Christopher Leonard
- Narrated by: Jacques Roy
- Length: 10 hrs and 19 mins
- Unabridged
-
Overall
-
Performance
-
Story
If you asked most people what forces led to today’s unprecedented income inequality and financial crashes, no one would say the Federal Reserve. For most of its history, the Fed has enjoyed the fawning adoration of the press. When the economy grew, it was credited to the Fed. When the economy imploded in 2008, the Fed got credit for rescuing us.
-
-
Pointless book
- By Darrin on 02-23-22
-
A Monetary and Fiscal History of the United States, 1961-2021
- By: Alan S. Blinder
- Narrated by: Todd McLaren
- Length: 15 hrs and 12 mins
- Unabridged
-
Overall
-
Performance
-
Story
Alan Blinder, one of the world's most influential economists and one of the field's best writers, draws on his deep firsthand experience to provide an authoritative account of sixty years of monetary and fiscal policy in the United States. Spanning twelve presidents, from John F. Kennedy to Joe Biden, and eight Federal Reserve chairs, from William McChesney Martin to Jerome Powell, this is an insider's story of macroeconomic policy that hasn't been told before—one that is a pleasure to listen to, and as interesting as it is important.
-
-
Listen for Nixon's Sake
- By Tricia on 10-26-22
By: Alan S. Blinder
-
The Price of Time
- The Real Story of Interest
- By: Edward Chancellor
- Narrated by: Luis Soto
- Length: 15 hrs and 7 mins
- Unabridged
-
Overall
-
Performance
-
Story
In the beginning was the loan, and the loan carried interest. For at least five millennia people have been borrowing and lending at interest. Yet as capitalism became established from the late Middle Ages onwards, denunciations of interest were tempered because interest was a necessary reward for lenders to part with their capital. And interest performs many other vital functions: it encourages people to save; enables them to place a value on precious assets, such as houses and all manner of financial securities; and allows us to price risk.
-
-
Big landscape in time and subjects; Austrian view
- By Philo on 08-29-22
-
The Coming Wave
- AI, Power, and Our Future
- By: Mustafa Suleyman, Michael Bhaskar - contributor
- Narrated by: Mustafa Suleyman
- Length: 12 hrs and 7 mins
- Unabridged
-
Overall
-
Performance
-
Story
We are approaching a critical threshold in the history of our species. Everything is about to change. Soon you will live surrounded by AIs. They will organize your life, operate your business, and run core government services. You will live in a world of DNA printers and quantum computers, engineered pathogens and autonomous weapons, robot assistants and abundant energy.
-
-
Click bait
- By Buyer on 09-11-23
By: Mustafa Suleyman, and others
-
Ages of American Capitalism
- A History of the United States
- By: Jonathan Levy
- Narrated by: John Lee
- Length: 31 hrs and 44 mins
- Unabridged
-
Overall
-
Performance
-
Story
Today, in the midst of a new economic crisis and severe political discord, the nature of capitalism in United States is at a crossroads. Since the market crash and Great Recession of 2008, historian Jonathan Levy has been teaching a course to help his students understand everything that had happened to reach that disaster and the current state of the economy, but in doing so he discovered something more fundamental about American history. Now, in an ambitious single-volume history of the United States, he reveals how capitalism in America has evolved through four distinct ages.
-
-
The narrator. The book.
- By Jack on 08-22-21
By: Jonathan Levy
-
America's Bank
- The Epic Struggle to Create the Federal Reserve
- By: Roger Lowenstein
- Narrated by: Robertson Dean
- Length: 9 hrs and 39 mins
- Unabridged
-
Overall
-
Performance
-
Story
A tour de force of historical reportage, America’s Bank illuminates the tumultuous era and remarkable personalities that spurred the unlikely birth of America’s modern central bank, the Federal Reserve. Today, the Fed is the bedrock of the financial landscape, yet the fight to create it was so protracted and divisive that it seems a small miracle that it was ever established. For nearly a century, America, alone among developed nations, refused to consider any central or organizing agency in its financial system.
-
-
Important and Intriguing
- By Jean on 11-02-15
By: Roger Lowenstein
-
The Lords of Easy Money
- How the Federal Reserve Broke the American Economy
- By: Christopher Leonard
- Narrated by: Jacques Roy
- Length: 10 hrs and 19 mins
- Unabridged
-
Overall
-
Performance
-
Story
If you asked most people what forces led to today’s unprecedented income inequality and financial crashes, no one would say the Federal Reserve. For most of its history, the Fed has enjoyed the fawning adoration of the press. When the economy grew, it was credited to the Fed. When the economy imploded in 2008, the Fed got credit for rescuing us.
-
-
Pointless book
- By Darrin on 02-23-22
-
A Monetary and Fiscal History of the United States, 1961-2021
- By: Alan S. Blinder
- Narrated by: Todd McLaren
- Length: 15 hrs and 12 mins
- Unabridged
-
Overall
-
Performance
-
Story
Alan Blinder, one of the world's most influential economists and one of the field's best writers, draws on his deep firsthand experience to provide an authoritative account of sixty years of monetary and fiscal policy in the United States. Spanning twelve presidents, from John F. Kennedy to Joe Biden, and eight Federal Reserve chairs, from William McChesney Martin to Jerome Powell, this is an insider's story of macroeconomic policy that hasn't been told before—one that is a pleasure to listen to, and as interesting as it is important.
-
-
Listen for Nixon's Sake
- By Tricia on 10-26-22
By: Alan S. Blinder
-
The Price of Time
- The Real Story of Interest
- By: Edward Chancellor
- Narrated by: Luis Soto
- Length: 15 hrs and 7 mins
- Unabridged
-
Overall
-
Performance
-
Story
In the beginning was the loan, and the loan carried interest. For at least five millennia people have been borrowing and lending at interest. Yet as capitalism became established from the late Middle Ages onwards, denunciations of interest were tempered because interest was a necessary reward for lenders to part with their capital. And interest performs many other vital functions: it encourages people to save; enables them to place a value on precious assets, such as houses and all manner of financial securities; and allows us to price risk.
-
-
Big landscape in time and subjects; Austrian view
- By Philo on 08-29-22
-
The Coming Wave
- AI, Power, and Our Future
- By: Mustafa Suleyman, Michael Bhaskar - contributor
- Narrated by: Mustafa Suleyman
- Length: 12 hrs and 7 mins
- Unabridged
-
Overall
-
Performance
-
Story
We are approaching a critical threshold in the history of our species. Everything is about to change. Soon you will live surrounded by AIs. They will organize your life, operate your business, and run core government services. You will live in a world of DNA printers and quantum computers, engineered pathogens and autonomous weapons, robot assistants and abundant energy.
-
-
Click bait
- By Buyer on 09-11-23
By: Mustafa Suleyman, and others
-
Ages of American Capitalism
- A History of the United States
- By: Jonathan Levy
- Narrated by: John Lee
- Length: 31 hrs and 44 mins
- Unabridged
-
Overall
-
Performance
-
Story
Today, in the midst of a new economic crisis and severe political discord, the nature of capitalism in United States is at a crossroads. Since the market crash and Great Recession of 2008, historian Jonathan Levy has been teaching a course to help his students understand everything that had happened to reach that disaster and the current state of the economy, but in doing so he discovered something more fundamental about American history. Now, in an ambitious single-volume history of the United States, he reveals how capitalism in America has evolved through four distinct ages.
-
-
The narrator. The book.
- By Jack on 08-22-21
By: Jonathan Levy
-
The Creature from Jekyll Island
- A Second Look at the Federal Reserve
- By: G. Edward Griffin
- Narrated by: Mark Bramhall
- Length: 24 hrs and 21 mins
- Unabridged
-
Overall
-
Performance
-
Story
This classic expose of the Fed has become one of the best-selling books in its category of all time. Where does money come from? Where does it go? Who makes it? The money magician's secrets are unveiled. Here is a close look at their mirrors and smoke machines, the pulleys, cogs, and wheels that create the grand illusion called money. A boring subject? Just wait. You'll be hooked in five minutes. It reads like a detective story - which it really is, but it's all true.
-
-
Lost confidence in author
- By Amazon Customer on 07-11-20
-
The Fund
- Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend
- By: Rob Copeland
- Narrated by: Rob Copeland, Will Damron
- Length: 12 hrs and 54 mins
- Unabridged
-
Overall
-
Performance
-
Story
Ray Dalio does not want you to listen to this audiobook. Late last year, when the billionaire founder of Bridgewater Associates, the largest hedge fund on the planet, announced that he was stepping down from the company he started out of his apartment nearly 50 years ago, the news made headlines around the world. Dalio cultivated an aura of international admiration and fame thanks to his company’s eye-popping success, coupled with a mystique he encouraged with frequent media appearances, celebrity hobnobbing, and his bestselling book, Principles.
-
-
Best finance book I've read in years
- By Aaron on 12-16-23
By: Rob Copeland
-
Limitless
- The Federal Reserve Takes on a New Age of Crisis
- By: Jeanna Smialek
- Narrated by: Barrie Kreinik, Jeanna Smialek
- Length: 10 hrs and 51 mins
- Unabridged
-
Overall
-
Performance
-
Story
The marble halls of the Federal Reserve have always held secrets; for decades the Fed did the utmost to preserve its room to maneuver, operating behind the scenes as much as possible. Yet over the past two decades, this elite world of bankers and economists has been forced to change its ways. Amid rising inequality, weakening global economic prospects, and a pandemic, the central bank has entered into a new era of transparency and activism. Limitless tells the inside story of this deeply impactful transformation, and what it means for ordinary Americans.
-
-
Liberal leaning nonsense
- By Amazon Customer on 03-10-23
By: Jeanna Smialek
-
The Bond King
- How One Man Made a Market, Built an Empire, and Lost It All
- By: Mary Childs
- Narrated by: Mary Childs
- Length: 11 hrs and 16 mins
- Unabridged
-
Overall
-
Performance
-
Story
Before Bill Gross was known among investors as the Bond King, he was a gambler. In 1966, a fresh college grad, he went to Vegas armed with his net worth ($200) and a knack for counting cards. Ten thousand dollars and countless casino bans later, he was hooked, so he enrolled in business school. The Bond King is the story of how that whiz kid made American finance his casino.
-
-
Being a good writer does not make you a good narrator
- By John Mallory on 05-14-22
By: Mary Childs
-
21st Century Monetary Policy
- The Federal Reserve from the Great Inflation to COVID-19
- By: Ben S. Bernanke
- Narrated by: George Guidall
- Length: 16 hrs and 4 mins
- Unabridged
-
Overall
-
Performance
-
Story
A former chair of the Federal Reserve explains the transformation of one our most powerful and consequential institutions.
-
-
don't buy, horrible narration
- By Mr. Incognito on 05-18-22
By: Ben S. Bernanke
-
The Illusion of Control
- Why Financial Crises Happen, and What We Can (and Can't) Do About It
- By: Jon Danielsson
- Narrated by: Bruce Mann
- Length: 10 hrs and 41 mins
- Unabridged
-
Overall
-
Performance
-
Story
Finance plays a key role in the prosperity of the modern world—but it also brings grave dangers. We seek to manage those threats with a vast array of sophisticated mathematical tools and techniques of financial risk management. Too often, though, we fail to address the greatest risk—the peril posed by our own behavior. Jon Danielsson argues that critical risk is generated from within, through the interactions of individuals and perpetuated by their beliefs, objectives, abilities, and prejudices.
-
-
Excellent
- By Alan L. on 11-29-22
By: Jon Danielsson
-
Lords of Finance
- The Bankers Who Broke the World
- By: Liaquat Ahamed
- Narrated by: Stephen Hoye
- Length: 18 hrs and 32 mins
- Unabridged
-
Overall
-
Performance
-
Story
It is commonly believed that the Great Depression that began in 1929 resulted from a confluence of events beyond any one person's or government's control. In fact, as Liaquat Ahamed reveals, it was the decisions made by a small number of central bankers that were the primary cause of the economic meltdown, the effects of which set the stage for World War II and reverberated for decades.
-
-
interesting insight into interwar period!
- By Toru on 11-27-09
By: Liaquat Ahamed
-
The House of Morgan
- An American Banking Dynasty and the Rise of Modern Finance
- By: Ron Chernow
- Narrated by: Robertson Dean
- Length: 34 hrs and 37 mins
- Unabridged
-
Overall
-
Performance
-
Story
A gripping history of banking and the booms and busts that shaped the world on both sides of the Atlantic, The House of Morgan traces the trajectory of the J. P.Morgan empire from its obscure beginnings in Victorian London to the crash of 1987. Ron Chernow paints a fascinating portrait of the private saga of the Morgans and the rarefied world of the American and British elite in which they moved. Based on extensive interviews and access to the family and business archives, The House of Morgan is an investigative masterpiece.
-
-
The construction of the House of Morgan
- By Darwin8u on 10-22-18
By: Ron Chernow
-
When Genius Failed
- The Rise and Fall of Long-Term Capital Management
- By: Roger Lowenstein
- Narrated by: Roger Lowenstein
- Length: 9 hrs and 12 mins
- Abridged
-
Overall
-
Performance
-
Story
Roger Lowenstein, the bestselling author of Buffett, captures Long-Term's roller-coaster ride in gripping detail. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein crafts a story that reads like a first-rate thriller from beginning to end. He explains not just how the fund made and lost its money, but what it was about the personalities of Long-Term's partners, the arrogance of their mathematical certainties, and the late-nineties culture of Wall Street that made it all possible.
-
-
When Genius Failed
- By Sean on 12-17-08
By: Roger Lowenstein
-
Principles for Navigating Big Debt Crises
- By: Ray Dalio
- Narrated by: Stephen Graybill
- Length: 16 hrs and 52 mins
- Unabridged
-
Overall
-
Performance
-
Story
As he explained in his #1 New York Times bestseller Principles, Ray Dalio believes that most everything happens over and over again through time so that by studying patterns one can understand the cause-effect relationships behind events and develop principles for dealing with them well. In this three-part research series, he does just that for big debt crises and shares his template in the hopes of reducing the chances of big debt crises happening and helping them be better managed in the future.
-
-
Interesting book
- By Mark on 02-06-23
By: Ray Dalio
-
The Price of Tomorrow
- Why Deflation Is the Key to an Abundant Future
- By: Jeff Booth
- Narrated by: Brian Troxell
- Length: 5 hrs and 49 mins
- Unabridged
-
Overall
-
Performance
-
Story
We live in an extraordinary time. Technological advances are happening at a rate faster than our ability to understand them, and in a world that moves faster than we can imagine, we cannot afford to stand still. These advances bring efficiency and abundance - and they are profoundly deflationary. Our economic systems were built for a pre-technology era when labor and capital were inextricably linked - an era that counted on growth and inflation and an era where we made money from inefficiency.
-
-
I've got this on constant repeat, 3 times already
- By Tim Kennedy on 05-20-20
By: Jeff Booth
-
Keeping at It
- The Quest for Sound Money and Good Government
- By: Paul A. Volcker, Christine Harper
- Narrated by: John Bedford Lloyd
- Length: 10 hrs and 6 mins
- Unabridged
-
Overall
-
Performance
-
Story
As chairman of the Federal Reserve (1979-1987), Paul Volcker slayed the inflation dragon that was consuming the American economy and restored the world's faith in central bankers. That extraordinary feat was just one pivotal episode in a decades-long career serving six presidents. Told with wit, humor, and down-to-earth erudition, the narrative of Volcker's career illuminates the changes that have taken place in American life, government, and the economy since World War II.
-
-
Wow! This Was Just What I Needed.
- By Terry R. Minion on 12-23-18
By: Paul A. Volcker, and others
What listeners say about The Power and Independence of the Federal Reserve
Average customer ratingsReviews - Please select the tabs below to change the source of reviews.
-
Overall
-
Performance
-
Story
- aj perry
- 12-09-24
pro fed sales pitch
the first hour felt like a fast talking sales pitch full of double talk. this would have been my 3rd book on the fed, but I am giving up after an hour. it has an interesting pro fed reserve bias while trying to convince you it is neutral or anti fed.
I don't care either way but it felt poorly written. I learned nothing and it couldn't hold my attention
Something went wrong. Please try again in a few minutes.
You voted on this review!
You reported this review!
-
Overall
-
Performance
-
Story
- Amazon Customer
- 01-04-21
A Nice Review of Fed Independence
Maybe not suited for Fed experts, but if you're looking to learn some Fed history while exercising or doing chores (how I listened to it), then it's a good overview of Fed history and governance. Most importantly, it doesn't devolve into conspiracy theories.
Something went wrong. Please try again in a few minutes.
You voted on this review!
You reported this review!
3 people found this helpful
-
Overall
-
Performance
-
Story
- Jim
- 05-01-22
Great read!
I have been reading books and articles trying to understand the Fed. This book is the most informative and clarifying I have read so far.
Something went wrong. Please try again in a few minutes.
You voted on this review!
You reported this review!
-
Overall
-
Performance
-
Story
- Philo
- 10-03-16
Meandering, gossipy, a bit pop-journalistic
I'm not sure who the intended audience is. This book would not work well as a first introduction to the Fed -- one should already have a broad outline of the story and players and the historical backdrop. On the other hand, it does not work as a penetrating, advanced study or treatise into the Fed either: it lacks the discipline to be this. It does not establish a clear historical background or theses to pursue systematically. It jumps around a lot. It is more like a series of anecdotes which are of interest to general followers of the story and those interested in various permutations of the story, and not a little Fed-watcher trivia appearing willy-nilly along the way. So, in a sense, I might qualify as the intended audience: a person of intermediate, mostly popular-level understanding of the Fed, having read a few books on it, and not entirely uninterested in wandering with the author hither and thither, and picking up many of the popular phrases and anecdotes of the Fed's story. There are interesting vignettes and personality sketches all over the place.
Meanwhile, the author does have lapses, not least in crafting metaphors: the author's oft-repeated "Ulysses-Punchbowl model" of the Fed's basic job is a mangled grafting-together of metaphors borrowed from others, and remains murky and third-rate. Certainly good communicators such as FDR or the Fed's own William McChesney Martin would be spinning in their graves at such inelegance and awkwardness. The book has virtues, and is an enjoyable casual listening experience, but simply lacks any clear, consistent traction on any segment of its subject matter. It talks about a lot of things, and a lot of important things, and often well, and often entertainingly enough, but disjointedly.
Something went wrong. Please try again in a few minutes.
You voted on this review!
You reported this review!
5 people found this helpful