Bankless 145 - Is the Fed Corrupt? with Christopher Leonard
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Nov 21, 2022 Christopher Leonard, an investigative journalist and author of 'The Lords of Easy Money,' dives deep into the Federal Reserve's origins and its evolving role. He raises concerns about the potential corruption within the institution and examines the impact of unconventional monetary policies since 2010. Leonard critiques the Fed's governance and its implications on wealth inequality, emphasizing the need for reform. The discussion also highlights political influences on the Fed and how these dynamics shape economic outcomes for the public.
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Fed's Importance
- The Fed, the foundation of the global financial system, is poorly understood.
- Its importance becomes apparent when it malfunctions, prompting discussion.
Uncharted Territory
- The Fed's current actions are not normal; they've entered uncharted territory.
- Their experimental easy money policies have created a distorted environment.
Unchecked Power
- The Fed makes significant decisions with little oversight.
- This lack of checks and balances raises concerns about their unchecked power.
