The New York Times bestseller from business journalist Christopher Leonard infiltrates one of America’s most mysterious institutions—the Federal Reserve—to show how its policies spearheaded by Chairman Jerome Powell over the past ten years have accelerated income inequality and put our country’s economic stability at risk. If you asked most people what forces led to today’s unprecedented income inequality and financial crashes, no one would say the Federal Reserve. For most of its history, the Fed has enjoyed the fawning adoration of the press. When the economy grew, it was credited to the Fed. When the economy imploded in 2008, the Fed got credit for rescuing us. But here, for the first time, is the inside story of how the Fed has reshaped the American economy for the worse. It all started on November 3, 2010, when the Fed began a radical intervention called quantitative easing. In just a few short years, the Fed more than quadrupled the money supply with one goal: to encourage banks and other investors to extend more risky debt. Leaders at the Fed knew that they were undertaking a bold experiment that would produce few real jobs, with long-term risks that were hard to measure. But the Fed proceeded anyway…and then found itself trapped. Once it printed all that money, there was no way to withdraw it from circulation. The Fed tried several times, only to see the market start to crash, at which point the Fed turned the money spigot back on. That’s what it did when COVID hit, printing 300 years’ worth of money in a few short months. Which brings us to now: Ten years on, the gap between the rich and poor has grown dramatically, inflation is raging, and the stock market is driven by boom, busts, and bailouts. Middle-class Americans seem stuck in a stage of permanent stagnation, with wage gains wiped out by high prices even as they remain buried under credit card debt, car loan debt, and student debt. Meanwhile, the “too big to fail” banks remain bigger and more powerful than ever while the richest Americans enjoy the gains of a hyper-charged financial system. The Lords of Easy Money “skillfully” (The Wall Street Journal) tells the “fascinating” (The New York Times) tale of how quantitative easing is imperiling the American economy through the story of the one man who tried to warn us. This is the first inside story of how we really got here—and why our economy rests on such unstable ground.
Details e-book The Lords of Easy Money
🗸 Author(s): Christopher Leonard
🗸 Title: The Lords of Easy Money: How the Federal Reserve Broke the American Economy
🗸 Rating : 4.6 from 5 stars (1010 reviews)
🗸 Languange: English
🗸 Format ebook: PDF, EPUB, Kindle, Audio, HTML and MOBI
🗸 Supported Devices: Android, iOS, PC and Amazon Kindle
Readers' opinions about The Lords of Easy Money by Christopher Leonard
Immerse yourself in the magical world of fairy tales with this enchanting collection of stories from around the world. From classic folklore to lesser-known myths, each tale is a timeless reminder of the power of storytelling. With its beautiful illustrations and captivating narratives, this book is sure to delight readers of all ages.
This captivating novel weaves together history and romance in a sweeping saga of love and loss set against the backdrop of war-torn Europe. As the world is torn apart by conflict, the lives of the protagonists are forever changed by the tumultuous events of the time. With its vivid imagery and poignant storytelling, this book is a moving tribute to the resilience of the human spirit.
This captivating science fiction novel transports readers to a distant future where humanity has colonized the stars and forged new alliances among the cosmos. Against the backdrop of interstellar conflict, the story follows a group of intrepid explorers as they journey to the far reaches of space in search of a lost civilization. With its gripping plot twists and richly imagined world-building, this book is a thrilling adventure that will leave readers eagerly anticipating the next installment.
Related ebooks of The Lords of Easy Money
The Stay-at-Home Mother: A completely addictive psycholog...
Her chest tightens, her heart speeding up. The kitchen is chaos. She steps on something hard, and looks down. Toy dinosaurs are scattered everywhere. But her son is nowhere – her baby boy is gone.The police arrive. She can’t look at her husband. Instead, she studies the network of lines on her shaking hands.Then her phone beeps with a voice message. ‘Listen to it on speaker,’ says the detective.A woman’s voice fills the air.‘I’m assuming…
Tempted by Love: A Montana Heat Novel (Montana Heat, 4)
She was this Montana Man’s greatest temptation . . .Alina Cooke—little sister of his two best friends—is the last woman DEA agent Jay Bennett should be waking up next to on the day of her brother’s wedding. But their powerful attraction ignited a powder keg of desire, and their once simple friendship has just become impossibly complicated.Alina’s always been steady, focused, and lived on the safe side of life. Jay is totally devoted to his…
Diary of a Dummy (Goosebumps SlappyWorld #10)
Reading someone's diary is bad but Slappy is already evil, so how could anyone resist finding out all of this dummy's terrifying secrets?What do Zoey and Billy Traister do when they find an abandoned ventriloquist dummy in an empty lot? They take him home, of course! As the pair tries to figure out why someone would throw out a perfectly good dummy, they accidentally bring Slappy to life. A night of horror ensues until the…
Set in the Ukrainian capital of Kiev during the chaotic winter of 1918-19, The White Guard, Bulgakov's first full-length novel, tells the story of a Russian-speaking family trapped in circumstances that threaten to destroy them. As in Tolstoy's War and Peace, the narrative centres on the stark contrast between the cosy domesticity of family life on the one hand, and wide-ranging and destructive historical events on the other.The result is a disturbing, often shocking story,…
Nourishing Diets: How Paleo, Ancestral and Traditional Peoples Really Ate Keep a Quiet Heart: 100 Devotional Readings The Frozen Sea (Dragon Games #2) Madame Pommery: Creator of Brut Champagne (Champagne Widows Novels) The Cloisters: A Novel Introduction to Mythology: Contemporary Approaches to Classical and World Myths Iron Lake (20th Anniversary Edition): A Novel (1) (Cork O’Connor Mystery Series) Loose Leaf for Exploring Geology The 12-Week Jesus Bible Study: Readings and Reflections for Women to Grow Closer to Christ The Ketogenic Kitchen: Low carb. High fat. Extraordinary health.
