When COVID-19 struck, the Federal Reserve stepped in to try to avert economic crisis. As the country’s central bank continues to pump billions of dollars into the financial system daily, who is benefiting and at what cost?
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FRONTLINE investigates “The Power of the Fed” — and how the central bank’s actions have played out over the years on Wall Street versus Main Street — in a gripping new documentary.
From the award-winning investigative team behind “Amazon Empire” and “The Facebook Dilemma,” the film traces how an experiment the Fed began after the 2008 crash has been dramatically changing the American economy — exploring criticisms that, while well-intentioned, the Fed’s efforts have contributed to wealth inequality, helped today’s financial world grow far removed from the real-world economy, and prompted fears of growing inflation and an impending crash.
The documentary is supported by The WNET Group’s Chasing the Dream, a public media initiative that examines poverty, justice and economic opportunity in America.
The correspondent is James Jacoby. The writers and producers are Anya Bourg and James Jacoby. The co-producer is Megan Robertson. The senior producer is Frank Koughan. The executive producer is Raney Aronson-Rath.
For more reporting in connection with this investigation, visit FRONTLINE’s website:
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FRONTLINE is produced at GBH in Boston and is broadcast nationwide on PBS. Funding for FRONTLINE is provided through the support of PBS viewers and by the Corporation for Public Broadcasting. Major funding for FRONTLINE is provided by the Ford Foundation. Additional funding is provided by the Abrams Foundation; the John D. and Catherine T. MacArthur Foundation; Park Foundation; and the FRONTLINE Journalism Fund with major support from Jon and Jo Ann Hagler on behalf of the Jon L. Hagler Foundation. Support for “The Power of the Fed” is provided by The WNET Group’s “Chasing the Dream,” a public media initiative that examines poverty, justice, and economic opportunity in America, with major funding by The JPB Foundation and additional funding from The Peter G. Peterson and Joan Ganz Cooney Fund.