2022
First Published
4.02
Average Rating
173
Number of Pages
Part of Series
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. In The Fed Unbound, Lev 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.
Avg Rating
4.02
Number of Ratings
131
5 STARS
34%
4 STARS
40%
3 STARS
21%
2 STARS
4%
1 STARS
1%
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Author
Lev Menand
Author · 1 books
Lev Menand is Associate Professor of Law at Columbia Law School. His research focuses on money and banking, central banking, financial regulation, administrative law, separation of powers, corporate governance, and the history of economic thought.
