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The Lords of Easy Money

How the Federal Reserve Broke the American Economy
in: Economics
Summary:

The book investigates the Federal Reserve's role in shaping the modern American economy through its unconventional monetary policies, such as quantitative easing, following the 2008 financial crisis. It critiques the Fed's actions for exacerbating wealth inequality and creating financial market distortions, arguing that these policies have had far-reaching negative consequences for the average American.

Key points:

1. Fed's 2008 Crisis Response: Leonard examines the Fed's actions during the 2008 crisis, like cutting interest rates and starting QE, which aimed to boost the economy but led to issues like asset bubbles and wealth inequality.

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