Book Review: 21st Century Monetary Policy: The Federal Reserve from the Great Inflation to COVID-19

21st Century Monetary Policy: The Federal Reserve from the Great Inflation to COVID-19
Ben Bernanke 
New York: W.W. Norton, 2022; 512 pp. 

Brendan Brown (monetaryscenario@outlook.com) is a nonresident senior fellow at the Hudson Institute and an associated scholar of the Mises Institute.

The “Open Diplomacy” Fallacy

In previous columns, we have criticized President Trump for abandoning our traditional foreign policy of non-interventionism, despite his campaign promises to reduce our commitments abroad. In this week’s column, I’d like to address another mistake Trump has made and continues to make. The mistake is not original to him but begins with Woodrow Wilson. This is the idea that wars can be settled by public meetings of the heads of state; in Trump’s language, he is trying to “broker a deal” between the contending parties.