Background facts / James Piereson -- The broad-based rise in return to top talent / Joshua D. Rauh -- The economic determinants of top income inequality / Charles I. Jones -- Intergenerational mobility and income inequality / Jörg L. Spenkuch -- The effects of redistribution policies on growth...

Think long / George P. Shultz -- Policy principles : lessons from the Fed's past / Allan H. Meltzer -- The market view : incentives matter / Peter Fisher -- Monetary policy in the financial crisis / Donald Kohn -- Concerns about the Fed's new balance sheet / James D. Hamilton -- The need for a...

Expert contributors examine the recent actions of the Federal Reserve and suggest directions for the Fed going forward by drawing on past political, historical, and market principles. They explain how the Fed arrived at its current position, offer ideas on how to exit the situation, and propose...