The Lords of Easy Money: How the Federal Reserve Broke the American Economy by

The Lords of Easy Money: How the Federal Reserve Broke the American Economy

Page: 384
Format: pdf, ePub, mobi, fb2
ISBN: 9781982166687
Publisher: Simon & Schuster
The Lords of Easy Money: How the Federal Reserve Broke the American Economy

Download free ebooks for mobile The Lords of Easy Money: How the Federal Reserve Broke the American Economy 9781982166687 CHM PDF RTF (English literature)

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.

If you asked most people what forces led to today’s unprecedented income inequality and financial crashes, no one would say the Federal Reserve. For most of its history, the Fed has enjoyed the fawning adoration of the press. When the economy grew, it was credited to the Fed. When the economy imploded in 2008, the Fed got credit for rescuing us.

But the Fed also has a unique power to reshape the American economy for the worse, which it did, fatefully, on November 4, 2010 through a radical intervention called quantitative easing. In just a few short years, the Fed more than quadrupled the money supply with one goal: to encourage banks and other investors to extend more risky debt. Leaders at the Fed knew that they were undertaking a bold experiment that would produce few real jobs, with long-term risks that were hard to measure. But the Fed proceeded anyway...and then found itself trapped. Once it printed all that money, there was no way to withdraw it from circulation. The Fed tried several times, only to see market start to crash, at which point the Fed turned the money spigot back on. That’s what it did when COVID hit, printing 300 years’ worth of money in two short months.

Which brings us to now: Ten years on, the gap between the rich and poor has grown dramatically, stock prices are trading far above what’s justified by actual corporate profits, corporate debt in America is at an all-time high, and this debt is being traded by big banks on Wall Street, leaving them vulnerable—just as they were during the mortgage boom. Middle-class wages have barely budged in a decade, and consumers are buried under credit card debt, car loan debt, and student debt.

The Lords of Easy Money tells the shocking, riveting tale of how quantitative easing is imperiling the American economy through the story of the one man who tried to warn us. This will be the first inside story of how we really got here—and why we face a frightening future.

The Lords of Easy Money: How the  - Harvard Book Store
        The Lords of Easy Money tells the shocking, riveting tale of how quantitative easing is imperiling the American economy through the story of the 
        The Lords of Easy Money: How the Federal  - Library Journal
        The Federal Reserve is the U.S. central banking system and is often referred to as “the lender of last resort,” because it supplies money to 
        The Lords of Easy Money: How the Federal  - Amazon.com
        The Lords of Easy Money tells the shocking, riveting tale of how quantitative easing is imperiling the American economy through the story of the one man who 
        The Lords of Easy Money: How the Federal  - Tattered Cover
        Jan 11, 2022 — The New York Times bestselling business journalist Christopher Leonard infiltrates one of America's most mysterious institutions—the Federal Publication Date: January 11th, 2022Related Editions: Kobo eBook (January 10th,
        The Lords of Easy Money: How the Federal Reserve Broke the
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        But the Fed also has a unique power to reshape the American economy for the worse, which it did, fatefully, on November 4, 2010 through a radical intervention 
        The Lords of Easy Money: How the Federal  - Oblong Books
        The Lords of Easy Money tells the shocking, riveting tale of how quantitative easing is imperiling the American economy through the story of the one man who 
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        The Lords of Easy Money tells the shocking, riveting tale of how quantitative easing is imperiling the American economy through the story of the one man who 
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        The Lords of Easy Money tells the shocking, riveting tale of how quantitative easing is imperiling the American economy through the story of the one man who 
        How the Federal Reserve broke the US economy | KCUR 89.3
        "The Federal Reserve is easily the most powerful single institution when it comes to American economic affairs," Leonard said.

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