It’s been a whirlwind week here in New York launching Fed Up — running from one TV spot to another, opinion pieces to reviews, responding to criticism by Fed officials (a good thing), radio and back. I can tell you that I’ve lost my voice a few times but not my bearings. The sun is shining brightly on Fed Up.
If anything, listening to Janet Yellen testify this week strengthened my resolve in doing everything I can to get Fed Up into the hands of those to whom the book is dedicated: Every hardworking American who wakes up in the morning asking themselves what went wrong.
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Chair Yellen’s insistence that the economic recovery is sturdy only served to reinforce my thesis: Those leading the Federal Reserve simply don’t grasp the reality that so many participants in our economy perceive the recovery to be anything but sturdy, and it is sorely lacking in inclusiveness. Savers continue to be penalized, millions of millennials remain trapped in modern day debtor’s prisons, and the younger generations behind them are woefully oblivious to the virtues and rewards of saving today to ensure a better tomorrow.
It’s fair to say far too many central bankers still don’t get it, which is why I chose some of the wisest words ever written on the error of central bankers’ ways to open Fed Up: Never in the field of monetary policy was so much gained by so few at the expense of so many. Thank you for writing them, Michael Hartnett.
The good, no great, news is that President Trump has a tremendous opportunity to restore the integrity of the Federal Reserve. The end of the book, as so many of you have learned, provides him and those in Congress a road map on how to reform the institution. I know many of our leaders have the book in hand. Let’s hope they find some time over this long weekend to read it.
Linked below is a page to my website containing some, but not all, of the press that’s accompanied the book launch. I would add, ‘just in case you missed it’ to the end of that sentence. But even I haven’t been able to keep up.
One last word of thanks to all of you for feedback, admirable speed reading of the book and reviews posted to Amazon. Keep them coming!
Have a great weekend,
Article by Danielle DiMartino Booth, author of Fed Up: An Insider’s Take on the Why the Federal Reserve is Bad for America