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Podcast: On the Ballot
Episode: A Brief History of the Federal Reserve w/ Former Fed President Jeffrey Lacker
Description: On this episode: The Federal Reserve has been at the center of America’s biggest economic turning points for more than a century as one of the country’s most powerful institutions. Former Richmond Fed President Jeffrey Lacker joins host Norm Leahy to trace that story—from the banking panics that led to its creation in 1913 to JP Morgan’s role in corralling Wall Street leaders. He explains how Congress set up 12 regional reserve banks, why the Fed’s role shifted during the Great Depression and World War II, and how the 1951 Treasury-Fed Accord cemented its independence. Lacker also shares how...