Bill Martin: “Truman looked at him and said: ‘Traitor’”

Bill Martin: “Truman looked at him and said: ‘Traitor’”

More than any other global institution, the US Federal Reserve’s decisions and communications drive capital markets and alter financial conditions everywhere from Seattle to Seoul. While its interest rate are set by an expert committee, for almost a century, the Fed’s core philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In this podcast series, Tim Gwynn Jones - a veteran central bank "watcher" - talks to authors of books about the Fed's most influential Chairs, starting with Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second episode, he interviews Robert Bremner – author of Chairman of the Fed: William McChesney Martin Jr. and the Creation of the Modern American Financial System (Yale University Press, 2004). Bill Martin still holds the record for the longest chairmanship at the Fed – holding the office from 1951 to 1970. A Democrat, he was first nominated by President Harry Truman and reappointed (more or less willingly) by Eisenhower, Kennedy, Johnson, and Nixon. He dismantled government wartime controls over interest rates, battled to save the postwar currency-management regime, democratised the Fed, and fought successive presidents to keep its independence. These conflicts started early, says Bremner. “Martin told this story about walking down Wall Street and passing the president going the other way and Martin said: ‘Good morning, Mr. President, great to see you’. And Truman looked at him and said: ‘Traitor’. Basically Truman wanted to continue low interest rates certainly until he left office and for as long as possible”. After a career in finance at the World Bank and in the mutual-fund industry, Bob Bremner is now a director of the Westminster Ingleside Foundation. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

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Tom Wells, "The Kissinger Tapes: Inside His Secretly Recorded Phone Conversations" (Oxford UP, 2026)

Tom Wells, "The Kissinger Tapes: Inside His Secretly Recorded Phone Conversations" (Oxford UP, 2026)

A richly detailed collection of transcripts of Henry Kissinger's secretly recorded phone conversations from his time in the Nixon administration that touch on every important issue of Kissinger's day ...

26 Maalis 34min

On Trump as a “World Historical Individual” with author John B. Judis

On Trump as a “World Historical Individual” with author John B. Judis

The philosopher G.W.F. Hegel “viewed history as consisting of stages punctuated by times of upheaval,” the author John B. Judis wrote in a recent essay for NOTUS, and “assigned to what he called ‘worl...

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How Authoritarians Exploit Gender

How Authoritarians Exploit Gender

Gender is becoming a central battleground in contemporary authoritarian politics, but how do autocrats manipulate these debates to their own advantage? Some regimes now pursue a double strategy of sim...

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Lucia Motolinia, "Unity through Particularism: How Electoral Reforms Influence Parties and Legislative Behavior" (Cambridge UP, 2026)

Lucia Motolinia, "Unity through Particularism: How Electoral Reforms Influence Parties and Legislative Behavior" (Cambridge UP, 2026)

Why do supposedly accountability-enhancing electoral reforms often fail in young democracies? How can legislators serve their constituents when parties control the necessary resources? Unity through P...

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Stephen G. Brooks, "The Political Economy of Security" (Princeton UP, 2026)

Stephen G. Brooks, "The Political Economy of Security" (Princeton UP, 2026)

In his new book, The Political Economy of Security (Princeton University Press, 2026), Stephen Brooks provides a systematic empirical and theoretical examination of how economic factors influence secu...

22 Maalis 49min

A Year of Autocratization: Steep Declines in Democracy Registered in 2025 V-Dem Report

A Year of Autocratization: Steep Declines in Democracy Registered in 2025 V-Dem Report

This week on Democracy Dialogues, host Rachel Beatty Riedl speaks with Kenneth Roberts and Paul Friesen, democracy experts at Cornell University, to unpack the takeaways of the newly released V-Dem 20...

22 Maalis 43min

Sidra Hamidi, "After Fission: Recognition and Contestation in the Atomic Age" (Cambridge UP, 2026)

Sidra Hamidi, "After Fission: Recognition and Contestation in the Atomic Age" (Cambridge UP, 2026)

Nuclear status is typically treated as a stable feature of a state's capacity to possess, use, or build nuclear weapons. Challenging this view, After Fission: Recognition and Contestation in the Atomi...

21 Maalis 56min

Piergiorgio Di Giminiani et al. eds., "The Futures of Reparations in Latin America: Imagination, Translation, and Belonging" (Rutgers UP, 2026)

Piergiorgio Di Giminiani et al. eds., "The Futures of Reparations in Latin America: Imagination, Translation, and Belonging" (Rutgers UP, 2026)

Over the last thirty years, Latin America has undergone an unprecedented wave of reparations targeting victims of political violence during military regimes, Indigenous and Afro-Latin groups affected ...

20 Maalis 1h 13min

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