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SUMMER SCHOOL 7: The Fed & Volcker's Socks
Planet Money
The Fed's Own Policies Contributed to the 2008 Financial Crisis
By 2008, the Federal Reserve had more power than JP Morgan ever dreamed of. When the financial crisis hit, the Fed used that power to step in and probably prevent another great depression. But at the same time, a lot of people have said the Fed's own policies contributed to the 2008 crisis. Today, every major economy in the world has a central bank.
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