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Praise for Financial Markets, Banking, and MonetaryPolicy A lucid treatment that takes on board shadow-banking, Dodd-Frank, the zero lower bound, and forward guidance. In short, all the key post-crisis issues. --Anil Kashyap, Edward Eagle Brown Professor of Economicsand Finance, University of Chicago The financial sector is a vital component of the USeconomic machinery. The Federal Reserve works within this sector topromote its congressional mandates of maximum employment and lowinflation. Unfortunately, the contribution of the financial systemto the economy's performance is not well understood. Studentsof standard college courses on money, banking, and monetary policyoften find that the textbooks have not kept pace with the evolutionof the financial sector, including the rise of securitized financeand the Federal Reserve's evolving monetary operations. TomSimpson's book represents a huge step forward in this regard.His comprehensive exposition of the essential parts of thefinancial system and modern explanation of how the Federal Reservesupports the economy gives readers a much better understanding ofthe US financial system and the Federal Reserve. --James Glassman, Managing Director and Head Economist forthe Commercial Bank, JPMorgan Chase & Co. Financial Markets, Banking, and Monetary Policy byTom Simpson provides a comprehensive introduction to the financialsystem, including the markets, institutions, and mechanisms offinance, as well as the role of the Federal Reserve and monetarypolicy. The economic principles underlying finance are woventhrough the chapters, and the book includes an insightfulintroduction into the causes of and responses to the recentfinancial crisis. Tom Simpson has had a front-row seat on financialdevelopments in recent decades and has written a book that providesan ideal introduction to the financial system and monetarypolicy. --Dan Sichel, Professor of Economics, Wellesley College

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9781118872468

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THOMAS D. SIMPSON served as a senior officer at the Board of Governors of the Federal Reserve System. In addition to his other responsibilities, he was an officer of the Federal Open Market Committee. Simpson is on the faculty at the University of North Carolina Wilmington.

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