The Fed Unbound

In "The Fed Unbound," legal scholar and former Treasury official Lev Menand explores the role of the Federal Reserve in stabilizing the U.S. economy, particularly during crises like the 2008 financial meltdown and the onset of the COVID-19 pandemic. He argues that the Fed's increased responsibilities, stemming from shifts in banking law and the emergence of alternative currencies, may inadvertently exacerbate economic inequality. Menand makes a compelling case for Congress to address the underlying issues plaguing the American economy rather than solely relying on the Fed to manage short-term crises.