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Bloomberg in-car apps are sponsored by interactive brokers. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene with David Gura.

Daily, we bring you insight from the best of economics,

finance, investment, and international relations.

Find Bloomberg Surveillance on Apple Podcasts, SoundCloud, Bloomberg. Yes, the former chairman of the Federal Reserve,

but not only that, but one of our frontline academics, and little did we know, a author his book a courage to act starts

quickly and moves ever forward breathlessly through the crisis that we have all

lived and the aftermath as well.

He's out now with a new edition, Paperback Perfect for Beach Reading,

and it's got a new afterward as well.

Ben, congratulation this, I know you've done the interview circuit. I want to dive into a longer, more thoughtful conversation about many of these themes.

Let me first begin with the emotion you capture at the beginning of the book.

Anybody in the racket of business journalism knows the name Michelle Smith.

She's a keeper of the gate.

She guards the lock and key at the Fed.

If you don't get along with Michelle Smith,

you don't talk to anyone.

You open your book with you exhausted in an office

...