The Fed Unbound

Name: The Fed Unbound
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SKU: 9781735913704
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The Trouble with Government by Central Bank

By Lev Menand

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Summary

The Fed Unbound explores the expanding role of the Federal Reserve in stabilising the U.S. economy amidst changes in banking laws and the emergence of alternative forms of money. Lev Menand, a legal scholar and former Treasury official, examines how the Fed's interventions during crises like 2008 and the COVID-19 pandemic have shaped economic outcomes. The book argues for comprehensive reform of the American financial system rather than reliance on the Fed’s crisis management.
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Format: Paperback / softback

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The Fed Unbound

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This book is ideal for readers interested in finance, economics, public policy, and U.S. economic history, especially those curious about the Federal Reserve’s evolving role and calls for systemic financial reform.

Description

Do the Fed's efforts to stabilise the economy worsen inequality?

The Federal Reserve, the U.S. central bank, was built for a monetary system composed primarily of investor-owned, government-chartered banks. But over the years, the erosion of banking law and the rise of alternative forms of money created outside of the banking system have pushed the Fed to take on more and more responsibilities to keep the economy out of recession. It did so during the 2008 crisis, and again during the first months of the COVID-19 pandemic, when it created $3 trillion to stop another financial panic.

Legal scholar and former Treasury official Lev Menand explains how the Fed did this, and argues that it is time to cure the disease that has plagued the American economy for decades, and not just rely on the Fed to treat its symptoms. The Fed Unbound is an urgent appeal to Congress to reform the U.S. economic and financial infrastructure.

Book Details

INFORMATION

ISBN: 9781735913704

Publisher: Columbia Global Reports

Format: Paperback / softback

Date Published: 23 June 2022

Country: United States

Imprint: Columbia Global Reports

Illustration: Illustrations

Audience: General / adult

DIMENSIONS

Width: 127.0mm

Height: 190.0mm

Weight: 250g

Pages: 174

Collections

Finance & Economics Finance & Investment Lev Menand Non-Fiction

About the Author

Lev Menand is an associate professor of law at Columbia Law School. He served as senior advisor to the Deputy Secretary of the Treasury from 2015–2016 and senior advisor to the Assistant Secretary for Financial Institutions from 2014–2015. He has also worked as an economist at the Federal Reserve Bank of New York in the Bank’s Supervision Group. He lives in New York City.