In response to the COVID-19 pandemic, the US Federal Reserve guaranteed and injected multitrillions of dollars into domestic as well as global markets. Professor Trevor Jackson explores the Fed’s unparalleled actions in the context of their potential impacts and costs, as well as their capacity to assist ordinary Americans. While not everyone will agree with Jackson’s prescriptions, his contention that the Fed holds increasing sway over the global financial system provides important food for thought.
About the Author
Trevor Jackson is an assistant professor of economic history at George Washington University.