Fed Power

Lawrence Jacobs and Desmond King''s Fed Power is the first sustained examination of the Fed as a potent political institution that systematically provides concealed advantages to a privileged few. The authors trace the Fed''s historic development from the fiery tug-of-war over monetary policy during the 19th century to its current position as the most important institution in the American economy, possessing unparalleled capacity and autonomy to intervene in private markets.