Maestro

Greenspans Fed And The American Boom

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Perhaps the last Washington secret is how the Federal Reserve and its enigmatic chairman, Alan Greenspan, operate. In Maestro, Bob Woodward uses his proven interviewing and research techniques to take you inside the Fed and Greenspan's thinking. Woodward presents the Greenspan years as a gripping narrative, a remarkable portrait of a man who has become the symbol of American economic preeminence.

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Book details:

Simon & Schuster |
288 pages |
ISBN 9780743205627 |
November 2001

$18.99 List Price

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Trade Paperback 9780743205627

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Praise

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“Woodward has established himself as the best reporter of our time. He may be the best reporter of all time. ”

– Bob Schieffer, CBS News Face the Nation

“Scrupulous and illuminating...Woodward lucidly explains the axes of intellectual and political disagreement over monetary policy...shedding new light on major conflicts of the Greenspan era. ”

– The New York Times Book Review

“A gripping ride through the oddly fragile and insecure world of big money and the curious mind of Greenspan. ”

– San Francisco Chronicle

“Fascinating, intimate...the best inside job on the subject yet to appear. ”

– The Dallas Morning News

“Admirably accomplishes what it sets out to do: demystify a Washington institution that is dimly understood by most Americans. ”

– USA Today

“Replete with the sort of fly-on-the-wall reporting for which Woodward is famous. What comes across most clearly is Greenspan's skill at the political power games that determine who survives in the cutthroat world of Washington. ”

– BusinessWeek

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Read an Excerpt

Chapter 1

On the morning of Tuesday, August 18, 1987, Greenspan walked through the door of his private office and into the adjoining massive conference room at the vast marble Federal Reserve headquarters on Constitution Avenue in downtown Washington, D.C. He had been chairman of the Fed for less than one week. Gathering in the stately meeting room were the members of the Federal Open Market Committee (FOMC), which Greenspan now chaired.

The FOMC is an unusual hybrid consisting of 12 voting members -- all 7 Fed governors plus 5 of the 12 presidents from the Federal Reserve district banks around the country.

At its...