Lev Menand on The Fed Unbound

Leonard Lopate at Large on WBAI Radio in New York

In The Fed Unbound: Central Banking in a Time of Crisis, Lev Menand, a legal scholar and former Treasury official, assesses how and why the Fed has taken on more and more responsibilities to keep the economy out of recession, as it did during the 2008 crisis and again during the COVID-19 pandemic. Join us when Menand argues that the Fed significantly exceeded the bounds of its legal authority—and, more broadly, that using the Fed as our primary instrument of economic policymaking skews our economy in favor of the rich, furthering our economic divide on this installment of Leonard Lopate at Large.