Limitless: The Federal Reserve Takes on a New Age of Crisis
The Federal Reserve went from lender of last resort to backstop for almost everything.
Jeanna Smialek, who covers the Fed for the New York Times, traces how its powers expanded through 2008 and then far further in 2020, when it moved into corporate debt and municipal lending. Non-technical and built around personalities and internal argument rather than models.
Recommended by 1 Person
Tyler Cowen
Jeanna Smialek, Limitless: The Federal Reserve Takes on a New Age of Crisis, is a good, readable, non-technical introduction to the Fed, focusing on personalities and internal mechanics, rather than macroeconomic theories.
Source · March 2023
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