Call number
332.1 LEO
Collection
Publication
Simon & Schuster (2022), 384 pages
Description
"The New York Times bestselling business journalist Christopher Leonard infiltrates one of America's most mysterious institutions-the Federal Reserve-to show how its policies over the past ten years have accelerated income inequality and put our country's economic stability at risk"--
Media reviews
... a description of recent Federal Reserve policies, written as if management of interest rates were the primary tool available. Given that the New York Fed is the depository of the U.S. government, which was missing $21 trillion as of fiscal 2015, and is the agent for the Treasury Department’s
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Exchange Stabilization Fund—the mother of all slush funds—it seems like there is a lot more going on than just raising and lowering the Fed funds rate. Not to mention, the NY Fed owners serve as correspondent banks for most, if not all, of the nations in the world, and the U.S. banking system is the leading money laundry for illegal and covert global flows.
Nevertheless, I read The Lords of Easy Money as Leonard does a good job of describing and documenting the basis of Fed Chairman Jerome Powell’s personal fortune. Show Less
"In a year defined by inflation and sinking asset prices, Christopher Leonard’s character-driven narrative of Federal Reserve decision-making provides insight into how we got here. The author takes us into the halls of power but also highlights the workers, investors and entrepreneurs whose
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strategies were distorted by years of near-zero interest rates. Their stories illuminate how startlingly little the Fed’s policymakers understand about how their actions affect Main Street." Show Less
Pages
384
ISBN
1982166630 / 9781982166632