Lords of Easy Money: How the Federal Reserve Broke the American Economy" by Christopher Leonard

"Lords of Easy Money: How the Federal Reserve Broke the American Economy" by Christopher Leonard scrutinizes the Federal Reserve's monetary policies, particularly quantitative easing (QE), implemented after the 2008 financial crisis. Leonard argues that QE, while intended to stabilize the economy, actually increased income inequality and jeopardized economic stability by inflating asset prices, disproportionately benefiting the wealthy. The book critiques the Fed's growing influence and lack of democratic oversight, suggesting its decisions prioritize financial elites over the public. Leonard utilizes personal stories to illustrate the real-world impact of the Fed's policies on everyday people, ultimately calling for reform to address the potential long-term economic instability and inequality.