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This fascinating deep dive into one of the most powerful and least understood American institutions—the Federal Reserve—is “a riveting narrative...[and] an invaluable guide to the monetary policy debates of the last few years" (Liaquat Ahamed, Pulitzer Prize-winning author of Lords of Finance). “The best book on the Fed in our time and a model of financial writing.” –Kirkus 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 speaking a language that only monetary experts could understand 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 that has changed its role in modern society in subtle but remarkable ways. Limitless tells the inside story of this deeply impactful transformation, and what it means for ordinary Americans. Focusing on characters such as the Fed chairman Jerome Powell; the Vice Chair for Supervision Randal Quarles; Vice Chair Lael Brainard; the Minneapolis Fed president Neel Kashkari; and the long-ago Fed Chair Marriner S. Eccles—and driven by the rising tension between Main Street and Wall Street—this is a page-turning account of the modern Fed’s inner workings during a crucial inflection point in history.
This important new study examines the intricately linked phenomena of interwoven population growth, economic power, quality education, business leadership, and fiscal significance as exemplified in the “Texas Triangle,” a network of metropolitan complexes that are reshaping the destiny of Texas and adding a strong pinnacle in the global system of economic mega-centers. The Texas Triangle consists of three metropolitan complexes: Dallas–Fort Worth at the northern tip, Houston-Galveston at the southeastern point, and Austin–San Antonio at the southwestern edge. It consists of four US Census–designated metropolitan statistical areas and includes 35 urban counties that comprise those areas. The Texas Triangle soon will include four of the ten most populous cities in the United States. Together these metro areas represent the fifteenth largest economy in the world. The authors describe the trajectories of each of the Texas Triangle metros in which they live and work and integrate them into a larger dynamic of functioning cohesion and effective collaboration. The Texas Triangle offers community leaders, elected officials, policy makers, and others a more nuanced understanding of an important moment in America’s continuing urban development. With broader perspectives for how community-building advances the public interest, this book lays important foundations for matching the path of economic prosperity to an informed sense of what is possible.