Courage to Act: A Memoir of a Crisis and Its Aftermath

Ben S. Bernanke’s book “Courage to Act: A Memoir of a Crisis and Its Aftermath” provides an insider’s view of the biggest financial crisis and economic downturn to hit America since the Great Depression. After an unexpected journey from small-town South Carolina to prominent academic posts and ultimately public service in Washington’s halls of power, Bernanke became head of the Federal Reserve in 2006. The global financial system was on the verge of collapse when the housing bubble burst in 2007. This event revealed the system’s latent weaknesses.

Bernanke and his team at the Fed fought the crisis with every tool at their disposal to keep the United States and world economies afloat. Working with two US presidents, facing criticism from a divided Congress and a public furious at Wall Street malfeasance, the Fed and Treasury Department partners were able to stabilize a financial system that was about to implode. After taking bold and immediate action to prevent an unimaginable economic catastrophe, they created novel policies that helped the US economy recover.