Age of Turbulence, Alan Greenspan
I’m personally fascinated by this book, and though I got it a few days ago, I’m only about halfway through (a combination of really thinking through the economic ramifications of what he proposes, taking a slow pace to read it, and just not devoting that much time to read it). The first part of the book briefly runs through how Greenspan acquired the position he did (actually pretty interesting), and the book then follows him through some tough political interactions he had and Fed decisions he had to make. I sent an email to the Fed Challenge team, requesting that they read it – it’s really good for historical background (good to support arguments during Q&A for the competition) and to delve into the mind of a real Fed chairman.
That said, unless you’re willing to read about interest rates, stock market reactions, debt crises, and economic development, sometimes in a slightly “dry” sense (to the average reader, I’d guess), I’m not sure I’d recommend this. But if you’re like me – and absolutely love macroeconomics – I definitely recommend it. Worth every penny of your $35 and hours spent reading it (… for the record, I got the second-to-last copy at the Harvard bookstore at the after-holiday 50% sale … the monetary cost for me was much lower than the benefit obtained 
).
Faulty powers: Monetary Policy, from The Economist
Wow, I love this article so much. Monetary Policy
It just about sums up … everything. It even includes the relevant, popular quotes:
“If you want a simple model for predicting the unemployment rate in the United States over the next few years, here it is: it will be what [Alan] Greenspan wants it to be, plus or minus a random error reflecting the fact that he is not quite God.” (Krugman, 1997)
“a combined monetary-fiscal effort … This is Milton Friedman’s “helicopter drop” of money.” [As a side, the Fed team this year decided to give our professors real gifts, in addition to plastic helicopters with money coming out/hanging off.]