Revisiting the Federal Reserve's Purpose

This chapter explores the historical foundations of the Federal Reserve System, emphasizing its original aim as a supportive network for productive finance rather than speculation. It critiques the shift from these principles, particularly in the context of recent economic crises like COVID-19, and advocates for a more regional approach to empower local development lending. Through a comparison of economic theories, the chapter calls for a reimagining of investment structures to foster a more equitable economy.