Lawrence Jacobs and Desmond King's Fed Power is the first sustained examination of the Fed as a potent political institution that systematically provides concealed advantages to a privileged few. The authors trace the Fed's historic development from the fiery tug-of-war over monetary policy...

Significant theories of democratic accountability hinge on how political campaigns affect Americans' candidate choices. We argue that the best estimate of the effects of campaign contact and advertising on Americans' candidates choices in general elections is zero. First, a systematic...

"Fed Power reveals how America's central bank undermined democratic accountability and widened economic inequality. It traces the Fed's historic rise to unparalleled power and capacity on domestic policy and its unilateral decisions during the 2008-9 financial crisis to leverage half of the...