Jeanna Smialek on *Limitless: The Federal Reserve Takes on a New Age of Crisis*
Macro Musings with David Beckworth
00:00
The Limitless Role of the Fed in Crisis
The Fed has become so powerful in the modern world for a bunch of very obvious reasons. It may look like a conspiracy to some people on the outside, but maybe the Fed was always bound for this limitless role and there's not much we can do about it. The markets are international, markets are huge, non-banks are huge, the shadow making system is huge. Like we need someone to back all of that up.
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