Fed Up: An Insider's Take on Why the Federal Reserve is Bad

Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America

A Federal Reserve insider pulls back the curtain on the secretive institution that controls Americaâ€™s economy

After correctly predicting the housing crash of 2008 and quitting her high-ranking Wall Street job, Danielle DiMartino Booth was surprised to find herself recruited as an analyst at the Federal Reserve Bank of Dallas, one of the regional centers of our complicated and widely misunderstood Federal Reserve System. She was shocked to discover just how much tunnel vision, arrogance, liberal dogma, and abuse of power drove the core policies of the Fed.

DiMartino Booth found a cabal of unelected academics who made decisions without the slightest understanding of the real world, just a slavish devoÂtion to their theoretical models. Over the next nine years, she and her boss, Richard Fisher, tried to speak up about the dangers of Fed policies such as quantiÂtative easing and deeply depressed interest rates. But as she puts it, â€œIn a world rendered unsafe by banks that were too big to fail, we came to understand that the Fed was simply too big to fight.â€

Now DiMartino Booth explains what really happened to our economy after the fateful date of December 8, 2008, when the Federal Open Market Committee approved a grand and unprecedented exÂperiment: lowering interest rates to zero and flooding America with easy money. As she feared, millions of individuals, small businesses, and major corporations made rational choices that didnâ€™t line up with the Fedâ€™s â€œwealth effectâ€ models. The result: eight years and counting of a sluggish â€œrecoveryâ€ that barely feels like a recovery at all.

While easy money has kept Wall Street and the wealthy afloat and thriving, Main Street isnâ€™t doing so well. Nearly half of men eighteen to thirty-four live with their parents, the highest level since the end of the Great Depression. Incomes are barely increasing for anyone not in the top ten percent of earners. And for those approaching or already in retirement, extremely low interest rates have caused their savings to stagnate. Millions have been left vulnerable and afraid.
Perhaps worst of all, when the next financial crisis arrives, the Fed will have no tools left for managing the panic that ensues. And then what?

DiMartino Booth pulls no punches in this exposÃ© of the officials who run the Fed and the toxic culture they created. She blends her firsthand experiences with what sheâ€™s learned from dozens of high-powered market players, reams of financial data, and Fed docuÂments such as transcripts of FOMC meetings.

Whether youâ€™ve been suspicious of the Fed for decades or barely know anything about it, as DiMartino Booth writes, â€œEvery American must understand this extraordinarily powerful institution and how it affects his or her everyday life, and fight back.â€
Country USA
Manufacturer Portfolio
Binding Kindle Edition
ReleaseDate 2017-02-14
Format Kindle eBook

Country	USA
Manufacturer	Portfolio
Binding	Kindle Edition
ReleaseDate	2017-02-14
Format	Kindle eBook

Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America

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