Bunker USA: Land of the Fed – The unbridled power of America’s central bank

The Bunker

Podmasters

News, Politics, Society & Culture, Government

4.6 • 984 Ratings

🗓️ 15 April 2023

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Federal Reserve has a huge sway over the US economy – and therefore the world’s. But as well as financial clout, it also has a massive political impact. How does it run – and how do its actions impact us all? Alex Andreou is joined by Larry Jacobs, co-author of Fed Power: How Finance Wins and professor at the University of Minnesota, to discuss for The Bunker USA. “It’s serving the interests of finance and working separate from democratic accountability.” “The key thing to remember is it is its own operation. It stands alone with its autonomy.” “It is not beholden to Congress. It doesn’t rely on Congress for any appropriation. Its officials have tremendous latitude.” “The magnitude of its intervention is quite remarkable.” www.patreon.com/bunkercast Presented by Alex Andreou. Music by Jade Bailey. Audio production: Alex Rees. Lead Producer: Jacob Jarvis. Group Editor: Andrew Harrison. THE BUNKER is a Podmasters Production Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	My name is Stan. I'm at. Nice to meet you. So you took up photography where? I've always loved
0:05.5	photography but I turn it into earning a living at 60. I enrolled on a day course.
0:11.8	Well college. I loved going to college. It's good you can retry. I'm enrolled on the day course. But college?
0:13.0	I loved going to college.
0:14.0	It's good you can retrain and do something.
0:16.0	Yeah, yeah.
0:17.0	Let's talk about working, learning, saving and making the most of living longer.
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1:14.8	Alexandero. The US dollar's role as the primary reserve currency for the
1:20.0	global economy means that what happens at the Federal Reserve has the
1:24.0	potential to affect billions of lives around the world. But what does the Fed do and
1:28.8	how does it work? My guest today's director of the Department of Political Science at the University of Minnesota and co-author of the book Fed Power How Finance Wins.
1:39.0	Welcome to the bunker, Larry Jacobs.
1:42.0	Good to be with you.
1:43.0	Larry, before we met up I was reading an article that future President James Garfield wrote
1:51.9	in the February 1876 edition of the Atlantic magazine.
1:57.0	And some of the stuff he says, I will quote one little bit, he says, no one can read the history of this year without observing the great reluctance,
	...

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