How the Fed got so powerful

2024-12-25 13:30:23 source:lotradecoin customer experience feedback category:Markets

"The limit does not exist!"

Years after Cady Heron famously won the mathlete championship in the movie Mean Girls, Fed Chair Jerome Powell came to a similar conclusion about the power that the Fed yields.

New York Times reporter Jeanna Smialek has been following the Fed closer than a Swiftie keeping up with the Eras tour. In her new book Limitless: The Federal Reserve Takes on a New Age of Crisis, Jeanna traces the history of the Fed, and how it amassed a ton of power in recent years. First, with the Great Recession and again, during the pandemic. She argues that it's an institution critical to daily life and one we should all follow closely.

Today on the show, a conversation with Jeanna Smialek — how the pandemic pushed the Fed over even more of its old boundaries and emerged more powerful than ever.

Music by Drop Electric. Find us: Twitter / Facebook / Newsletter.

Subscribe to our show on Apple Podcasts, Spotify, Pocket Casts and NPR One.

For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.

More:Markets

Recommend

Fewer U.S. grandparents are taking care of grandchildren, according to new data

Fewer grandparents were living with and taking care of grandchildren, there was a decline in young c

Lysander Clark's Journey in Investment and Business

Born on May 2, 1968, in Portland, Oregon, Lysander Clark grew up immersed in a business-oriented env

Mae Whitman Is Pregnant, Shares She’s Expecting Baby With Parenthood Reunion Photo

Mae Whitman is entering a new stage of parenthood. Though the 35-year-old's time on Parenthood ended