Both should be read. The one on the Fed tells how bad banking rules have caused disaster again & again. And how good banking rules ought to be implemented across the country & planet.
I wish those regulating banks would read that book!
Now you've put your finger on it. Every economy bigger than a breadbox has to have a central bank to manage its' money supply, but in so many cases (not just ours) the men who pull the levers are fallible, and get it wrong, or become victims of politics, which always gets it wrong.
Macroeconomics is mind-bendingly difficult. It's virtually impossible to learn by running controlled experiments, and in any case the number and influence of variables is near infinity. That's why I gave it up in college and became an engineer instead. Not that I ever stopped reading. I didn't discover the Austrians until I was in my 40s. My professors all worshiped Keynes.