Lever Time The Fight For Control Of Your Money (with Matt Stoller and Nathan Tankus)
Jul 24, 2025
Join Matt Stoller, Director of Research at the American Economic Liberties Project and author of the insightful newsletter Big, along with Nathan Tankus, the mind behind Notes on the Crises, as they tackle the fierce tug-of-war over Federal Reserve control. They delve into Trump’s pressure on interest rates and the implications for democracy and economic stability. The duo critiques the Fed’s independence and discusses the fallout from recent banking crises, shedding light on the system's vulnerabilities and the power dynamics at play.
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Fed's Role and Independence Origin
- The Federal Reserve is the government's bank controlling the money supply and setting prices for loans and bonds.
- Its so-called independence began in the late 1970s, shifting power strongly towards Wall Street instead of elected officials.
Fed Controlled by Elites
- The Federal Reserve’s structure favors elite bankers over ordinary people.
- Its decision-makers are mostly wealthy and part of the Wall Street ecosystem.
Independence Hinders Democracy
- Matt Stoller argues Federal Reserve independence hinders democratic accountability and fails ordinary people.
- The Fed operates secretly, making trillions in decisions without real voter influence.
