A Monetary and Fiscal History of the United States, 1961-2021

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In this insightful work, Alan Blinder, a prominent economist and skilled writer, offers a comprehensive account of sixty years of U.S. monetary and fiscal policy. Covering twelve presidents from John F. Kennedy to Joe Biden and eight Federal Reserve chairs from William McChesney Martin to Jerome Powell, this narrative reveals an insider's perspective on macroeconomic policy that has rarely been shared. Blinder examines significant developments and long-term changes, detailing the interplay between monetary and fiscal policy through various economic cycles, including recessions and booms. The journey begins with Kennedy's New Frontier fiscal policy and extends to Biden's pandemic responses, highlighting key events such as the stagflation of the 1970s, the fight against inflation under Jimmy Carter and Paul Volcker, the emergence of Reaganomics, and the economic bubbles of the 2000s. The narrative progresses through recent history, addressing the financial crisis, the Great Recession, and monetary policy during COVID-19. This engaging and concise account is poised to become a classic, offering essential insights for those looking to understand the trajectory of the economy and its future direction.