Bibliograph

The fed unbound, central banking in a time of crisis, by Lev Menand

Type

Label

The fed unbound, central banking in a time of crisis, by Lev Menand

Language

eng

Bibliography note

Includes bibliographical references

Index

no index present

Literary Form

non fiction

Main title

The fed unbound

Nature of contents

bibliography

Oclc number

1291568148

Responsibility statement

by Lev Menand

Sub title

central banking in a time of crisis

Summary

"It is a bedrock principle of the US Constitution that Congress, as representatives of the people, sets economic policy and directs government resources. This all changed thirteen years ago, and even more dramatically during the pandemic. The Federal Reserve operates independently from the rest of the government, and can create as much money as it sees fit and use it without the prior approval of Congress, the courts, or the President. When the Fed creates new money to address economic problems, it helps certain groups, like powerful business interests, and becomes a massive driver of inequality. Menand tells the story of how the Fed became out of control during the 2008 financial crisis and the 2020 pandemic, and what can be done about it"--, Provided by publisher

Classification