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Since its establishment, the Federal Reserve has taken on two important missions: to maintain macroeconomic stability and financial stability. The institution was born out of historic financial crises. For more than 100 years, the Fed has used various policy tools to perform its duties while taking advantage of its unique position to fight the financial crisis and help the United States revive its economy. This book reviews and analyzes the Fed's response to the 2008 financial crisis from the unique perspective of the former Fed Chairman, who also talked about his thoughts and reflections after the crisis.
