How the Federal Reserve can really help America
Andy Serwer with Max Zahn

1913 was a big year for America. On October 7, Henry Ford introduced the world’s first moving car assembly line in Highland Park, Michigan. Then two months later, on ​​December 23, Congress passed the Federal Reserve Act creating our nation’s central bank….Karen Petrou, managing partner of Federal Financial Analytics and the author of “Engine of Inequality: The Fed and the Future of Wealth in America,” notes in her opinion piece in the New York Times this week that: “assets the Fed has taken out of the economy as part of Q.E. (quantitative easing or buying) now stand at $8.1 trillion, or about one-third of gross domestic product.” That’s a lot. …There seems to be a louder drumbeat coming from the media ranks as well. Besides Petrou’s Times piece, Frontline released “The Power of the Fed,” this week, which questions why the stock market players et al. benefit inordinately when the Fed “continues to pump billions of dollars into the financial system daily…”