The Controversial Legacy of the Federal Reserve

This chapter explores the secretive origins of the Federal Reserve, tracing its inception back to a clandestine meeting on Jekyll Island in 1910. It critiques the Fed's performance during major economic crises, including the Great Depression and the Great Recession, and discusses its policies that fueled the housing market bubble. The conversation raises critical questions about the Fed's legitimacy, transparency, and its role as a quasi-public, quasi-private entity affecting public trust.