Fed Power

How Finance Wins

Nonfiction, Social & Cultural Studies, Political Science, Politics, Economic Policy, Business & Finance
Cover of the book Fed Power by Lawrence Jacobs, Desmond King, Oxford University Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Lawrence Jacobs, Desmond King ISBN: 9780199388981
Publisher: Oxford University Press Publication: March 4, 2016
Imprint: Oxford University Press Language: English
Author: Lawrence Jacobs, Desmond King
ISBN: 9780199388981
Publisher: Oxford University Press
Publication: March 4, 2016
Imprint: Oxford University Press
Language: English

The Federal Reserve, created nearly a century ago, is the most powerful central bank in the world. The Fed's power, which derives from its ability to alter the money supply and move interest rates, weighs heavily not only on the US economy, but on the world economy as well. Not surprisingly, most scholarship on the Fed has focused on its economic role; however, the Fed's power isn't merely economic but is also political. Since its decisions benefit some economic sectors (and hence interest groups) and not others, it effectively makes political choices when shaping economic policy. Lawrence R. Jacobs and Desmond King's Fed Power is the first sustained synthesis of the Fed's political role-especially the way in which it uses its power to benefit some interest groups and not others-since the 2008 financial crisis. The book closely examines the Fed's unilateral actions during the 2008-2009 financial crisis when it leveraged half of the country's net worth without a congressional vote or presidential authorization. While the country was spared a second depression, the Fed's actions doled out lopsided benefits to finance. The Fed's favoritism and unprecedented assertions of power provoked public unease and a bipartisan congressional backlash to restrain it. Fed Power concludes with bold proposals to reform America's financial management to prevent future crises and to restore democratic accountability. A powerful critique of how the Federal Reserve governs the American economy, Fed Power will be essential reading for anyone interested in how inequality has increased since 2009, even throughout a liberal presidency committed to reducing inequality.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

The Federal Reserve, created nearly a century ago, is the most powerful central bank in the world. The Fed's power, which derives from its ability to alter the money supply and move interest rates, weighs heavily not only on the US economy, but on the world economy as well. Not surprisingly, most scholarship on the Fed has focused on its economic role; however, the Fed's power isn't merely economic but is also political. Since its decisions benefit some economic sectors (and hence interest groups) and not others, it effectively makes political choices when shaping economic policy. Lawrence R. Jacobs and Desmond King's Fed Power is the first sustained synthesis of the Fed's political role-especially the way in which it uses its power to benefit some interest groups and not others-since the 2008 financial crisis. The book closely examines the Fed's unilateral actions during the 2008-2009 financial crisis when it leveraged half of the country's net worth without a congressional vote or presidential authorization. While the country was spared a second depression, the Fed's actions doled out lopsided benefits to finance. The Fed's favoritism and unprecedented assertions of power provoked public unease and a bipartisan congressional backlash to restrain it. Fed Power concludes with bold proposals to reform America's financial management to prevent future crises and to restore democratic accountability. A powerful critique of how the Federal Reserve governs the American economy, Fed Power will be essential reading for anyone interested in how inequality has increased since 2009, even throughout a liberal presidency committed to reducing inequality.

More books from Oxford University Press

Cover of the book American Exceptionalism in Crime and Punishment by Lawrence Jacobs, Desmond King
Cover of the book Quincas Borba by Lawrence Jacobs, Desmond King
Cover of the book The Oxford Handbook of Work and Family by Lawrence Jacobs, Desmond King
Cover of the book What Will I Be by Lawrence Jacobs, Desmond King
Cover of the book Copyright by Lawrence Jacobs, Desmond King
Cover of the book Language Teaching Competences by Lawrence Jacobs, Desmond King
Cover of the book Governing Through Crime by Lawrence Jacobs, Desmond King
Cover of the book Erotic Subjects by Lawrence Jacobs, Desmond King
Cover of the book Medjugorje and the Supernatural by Lawrence Jacobs, Desmond King
Cover of the book How Repentance Became Biblical by Lawrence Jacobs, Desmond King
Cover of the book Visions of Compassion by Lawrence Jacobs, Desmond King
Cover of the book Schumann by Lawrence Jacobs, Desmond King
Cover of the book Engaging Buddhism by Lawrence Jacobs, Desmond King
Cover of the book Selected Writings of Andrés Bello by Lawrence Jacobs, Desmond King
Cover of the book Belief without Borders by Lawrence Jacobs, Desmond King
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy