America's Bank
by Roger Lowenstein
The tumultuous era and remarkable personalities that unexpectedly birthed the Federal Reserve, from renowned financial writer Roger LowensteinUntil the election of Woodrow Wilson the United States—alone among developed nations—lacked a central bank. Ever since the Revolutionary War, Americans had desperately feared the consequences of centralizing the nation's finances under government control. However, in the aftermath of a disastrous financial panic, Congress was persuaded—by a confluence of populist unrest, widespread mistrust of bankers, ideological divisions, and secretive lobbying—to approve the landmark 1913 Federal Reserve Act.Writing in a rich and untapped historical vein, Roger Lowenstein—acclaimed financial journalist and bestselling author of When Genius Failed and The End of Wall Street—reveals the drama-filled, unlikely story of how America created the Federal Reserve, thereby taking its first steps...