Fed Power: How Finance Wins 1st Edition Lawrence Jacobs 0197573142 9780197573143

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Product details:

• ISBN 10: 0197573142
• ISBN 13: 9780197573143
• Author: Lawrence Jacobs

An eye-opening analysis of the Federal Reserve’s massive and unwarranted power in American life and how it favors the financial sector over everyone else.The Federal Reserve, created more than a century ago, is the most powerful central bank in the world. The Fed’s power, which derives from its ability to alter the money supply and move interest rates, weighs heavily not only on the US economy, but on the world economy as well. Lawrence R. Jacobs and Desmond King’s Fed Power is the first sustained synthesis of the Fed’s political role–especially the way in which it uses its power to benefit some interest groups and not others–since the 2008 financial crisis. In this fully updated and revised second edition, Fed Power addresses new developments during Trump’s presidency–particularly the Fed’s massive and unprecedented injection of liquidity into the US economy following the COVID epidemic-and offers fresh insights on the Fed’s outsized role in picking winners and losers in the American economy.

Table of contents:

1 Why Fed Power Matters

2 The Rise of the Fed State

3 Concealed Advantage

4 The Fed’s Legitimacy Problem

5 Preparing for the Next Financial Crisis

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