How the Federal Reserve is undermining workers’ recent modest gains.

November 2 2022

Twelve people, unelected, are sitting there making decisions that could easily tank the global economy — and undermine efforts to preserve democracy in Ukraine and the gains in the labor market in the United States.

This week on Intercepted: Jon Schwarz, senior writer with The Intercept, talks all things Fed, the most powerful economic institution in the U.S. Schwarz is first joined by Intercept reporters Ken Klippenstein and Daniel Boguslaw, who discuss how banks are lobbying the Fed, raising questions about the institution’s independence. Schwarz is then joined by former Fed economist Claudia Sahm to break down the Fed’s role in the economy and how its efforts to curb inflation are destabilizing the global economy and raising unemployment.

First aired on The Intercept.

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