Minn Fed's Fettig: Should Have Titled It: "Whatever It Takes"

"Wessel could have titled his book Whatever It Takes, as it is a central theme and phrase employed throughout the book to describe the motivation of Bernanke, Paulson and Geithner, among others, as they labored under tight deadlines and mounting stress to prevent what they believed was a pending depression to rival the great one of the 1930s. Time will tell whether they were right. Or maybe it won’t. After all, economists and historians are still arguing about the causes and consequences of the Great Depression. They simply will never have the counterfactual and so will likely go on telling stories about the Great Panic for many years. In Fed We Trust is a solid first crack at that story, especially with its focus through a Federal Reserve lens. But as Wessel well knows, this story is far from finished; the next installment will likely be recounted in his paperback edition."
-- David Fettig of Minneapolis Fed in "Region"   Read it here.

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