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The Fed Unbound: Central Banking in a Time of Crisis
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ISBN13: 9781735913704
Publisher: Columbia Global Reports
Published: May 10 2022
Pages: 176
Weight: 0.40
Height: 0.60 Width: 5.00 Depth: 7.40
Language: English
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, as it did 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.
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