Title: Short on explanation
Review: I was looking for a book that would provide an overview about why the Federal Reserve was formed; what, in general, were the problems it was created to solve, the various approaches considered and the political debate surrounding it as well as a cogent explanation, written in plain language, of how the system functions. I was not looking for a rote recital of historical facts and happenings but a top down explanation leading to a general understanding, historical and operational, of the system. As the Fed is currently an issue of no small contention, I wanted to be able to understand what the hullabaloo is all about. This book is long on facts but painfully short on explanation. Quite disappointing.
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