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Author : Nick Timiraos
Title : Trillion Dollar Triage: How Jay Powell and the Fed Battled a President and a Pandemic---and Prevented Economic Disaster
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The inside story, told with??insight, perspective, and stellar reporting,? of how an unassuming civil servant created trillions of dollars from thin air, combatted?a public health crisis, and saved the American economy from a second Great Depression (Alan S. Blinder,?former Vice Chair of the Federal Reserve).By February 2020, the U.S. economic expansion had become the longest on record. Unemployment was plumbing half-century lows. Stock markets soared to new highs. One month later, the public health battle against a deadly virus had pushed the economy into the equivalent of a medically induced coma. America?s workplaces?offices, shops, malls, and factories?shuttered. Many of the nation?s largest employers and tens of thousands of small businesses faced ruin. Over 22 million American jobs were lost. The extreme uncertainty led to some of the largest daily drops ever in the stock market.Nick Timiraos, the Wall Street Journal?s chief economics correspondent, draws on extensive
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