The Lords of Easy Money: How the Federal Reserve Broke the American Economy Paperback – January 10, 2023

I have often wondered about the operation of the Federal Reserve. How it works and why. This book tells the tale, objectively, using the dynamic of one who was contrary to certain choices, vs. those who went along. Creates a better understanding of how the credit and banking economy works in a way that is mostly comprehensible and accessible, and highly interesting. Very useful if you want to understand the "underbelly" of the economy, here and elsewhere, ultimately, by inference.

While I didn’t know what to expect, beyond it being a book about the Fed, I was instantly riveted like a bit of a nerd! I’m convinced that the Fed, and financial people in general, tend to speak in their own cryptic language so they can bore us by something quite serious.As I read this book my jaw continued to hit the floor. Now I have an understanding as to why the stock market is at it’s highest yet, while the average person is struggling more than ever! This book will make you angry, but it will also pull the veil away to clearly explain this in a manner that is easily understandable to nearly anyone. While I don’t think the Fed should be abolished, at least before reading The Creature From Jekyll Island, I do believe that it needs to be drastically overhauled, along with a stringent set of legal guidelines… an unchangeable charter that closely guides its operations. One thing is for sure… this book will make you think!

Very informative, well recommended read, from neophyte to expert economists....

Informative

Good Read.

When it comes to exposing the Federal Reserve's loss of institutional integrity, Mr. Leonard has the tenacity and self-discipline to search out the data, the intelligence and knowledge to decipher the data's meaning, and the courage to reveal to the public the truth of the Feds loss of institutional integrity. This is a story told with a riveting narrative. One reviewer made much or the author "confusing" a T-bill with a Treasury bond. While the reviewers criticism is technically correct, the definition between the two is not always distinct and well-defined as the reviewer wishes implies. My advice is to go read this book if you want to see how the Federal Reserve has been co-opted by the Big Bank Financial Barrons and is now setting Fed policy to move money away Main Street to the vaults of Wall Streets. their goal is to remove wealth and income from middle America and give it to the Big Banks. . The Board of Governors of the Fed are now corrupt and have become nothing more than the minions of Wall Street and billionaire corporatist.

Brilliant book that reveals the consequences of short-term thinking and reckless money printing that has characterized the Fed over the past 20 years, exactly the opposite approach from what you would hope for from an independent Fed. Extremely eye opening on how QE has been abused for far too long and created a doom spiral where the Fed is constantly mopping up new messes of its own making. The book is structured essentially as twin biographies of two key figures: Tom Hoenig, the former chair of the KC Fed, and Jay Powell, the current Fed Chair. It shows Hoenig to be a lone voice of monetary responsibility during the era the book covers in depth (2008 to 2022) . Extremely well written and accessible to non-experts with an interest in the Fed.

Amazing if you want to learn more about the American banking system.