Christopher Leonard, author and editor of the new book, discusses the Federal Reserve’s signal that it will raise interest rates for March. The Lords of Easy MoneyThis is a story about how the Federal Reserve destroyed the American economy. He details the issues surrounding quantitative easing. This was a radical intervention that the federal government made in 2010 to encourage investors and banks to lend riskier debt to fight the recession. “The Fed’s policies over the last decades have stoked the world of Wall Street,” says Leonard. “It has pumped trillions of dollars into the banking system and thereby inflated these markets for stocks, for bonds. And that drives income inequality.”
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