内容简介
现代经济是信用经济，央行是金融体系（和实体经济）这个宏大的交响乐的指挥，决定着音乐的节奏和情绪。货币和信用是如何被创造出来的？货币政策是如何实施的？它们又是如何影响金融市场和实体经济，进而影响你我的？理解以美联储为核心的全球货币和金融体系将为我们打开这个黑匣子，并有助于我们理解当前的世界。
本书作者为我们打开了这个黑匣子，他曾在美联储货币政策实施的第一线——纽约联储公开市场交易室做交易员，“卧底”深耕多年。从这个独特的视角，作者切身观察到美联储和各国央行的运作方式，以及金融体系是如何真正运行的。阅读本书后，读者会理解央行“指挥”的金融体系（和实体经济）的交响乐是如何演奏的：货币和信用是如何被创造的，央行的货币政策是如何实施的，金融体系和实体经济是如何反应的。
作者简介
[美]王造（Joseph Wang），牛津大学经济学硕士，哥伦比亚大学法学博士，现任Monetary Macro公司首席投资官。曾在纽约联储公开市场交易室担任高级交易员，负责公开市场操作，研究金融系统的内部运作。曾在标准普尔公司担任信用分析师，并从事法务工作。
Content introduction
The modern economy is a credit economy, and the central bank is the conductor of the grand symphony of the financial system (and the real economy), determining the rhythm and mood of the music. How is money and credit created? How is monetary policy implemented? And how do they affect financial markets and the real economy, and thus you and me? Understanding the global monetary and financial system with the Fed at its core will open this black box for us and help us make sense of the current world.
This black box is opened by the author, who spent years working undercover as a trader in the New York Fed's open market trading room, the front line of the Fed's monetary policy implementation. From this unique perspective, the author gets a first-hand look at how the Federal Reserve and central banks operate, and how the financial system really works. After reading this book, the reader will understand how the symphony of the financial system (and the real economy) is played by the central bank: how money and credit are created, how the monetary policy of the central bank is implemented, and how the financial system and the real economy react.
About the author
Joseph Wang, M.A. in Economics from Oxford University and J.D. from Columbia University, is the Chief investment Officer of Monetary Macro. He worked as a senior trader in the New York Fed's Open Market trading room, where he was responsible for open market operations, studying the inner workings of the financial system. He worked as a credit analyst and legal officer at Standard & Poor's.
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