Book notes: The Fed unbound, by Lev Menand

The Fed unbound, by Lev Menand

Lev Menand, The Fed unbound: central banking in a time of crisis, Columbia Global Reports, May 2022, 176 pages

This new book by Lev Menand argues that the Fed has extended its mandate beyond the tasks for which it was originally designed. Starting with the broad interventions during the global financial crisis and more recently during the Covid-19 crisis, the result has been nothing short of a transformation of the Fed’s role in the US economy. Trying to stabilise a financial system that has

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