The why, how, and what of this book. Setting the stage -- The only game in town -- Central banks' communication challenge -- How and why this book is organized -- Context: the rise, collapse, and resurrection of central banking. The golden age of central banks and "bubblish finance": a brief historical perspective -- Cascading failures -- Central bank resurrection: durable or a dead cat bounce? -- From the what to the so what. Setting the stage: the ten big challenges -- The quest of a generation: sustaining inclusive growth -- Reducing the risk of the unemployed becoming unemployable -- The inequality trifecta -- The persistent trust deficit -- National political dysfunction -- The "G-O": slide into the "international economic non-system" -- The migration and morphing of financial risk -- The liquidity delusion -- Bridging the gap between markets and fundamentals -- It is hard to be a good house in a challenged neighborhood -- The desirable way forward. Addressing the ten big challenges: dealing with willing central banks that lack sufficient tools -- The reduced-form approach to a grand policy design -- From what should happen to what is likely to happen. When desirable and feasible differ -- Turning paralyzing complexity into actionable simplicity -- The belly of the distribution of potential outcomes -- A world of greater divergence(I): multi-speed growth -- A world of greater divergence (II): multi-track central banks -- A world of greater divergence (III): non-economic, non-policy headwinds -- A world of greater divergence (IV): disruptive innovation goes macro -- Putting it all together -- The keys to navigating a bimodal distribution. What history tells us -- Recognizing blind spots and overcoming biases -- Advancing and enhancing cognitive diversity -- Translating awareness into optionality, resilience, and agility -- The power of scenario analyses -- Valuing liquidity and optionality -- Bringing it all together. In sum.