Op-ed: It's time to reform a damaged Fed
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In a new book called "Fed Power: How Finance Wins", co-authors Larry Jacobs, of the University of Minnesota's Humphrey School of Public Affairs, and Desmond King, of the University of Oxford, argue that the Federal Reserve needs to become more transparent and accountable to avoid mistakes made during the financial crisis.
Jacobs talked to MPR News host Kerri Miller about the Fed's cozy relationship with mega-banks and how other nations' central banks operate differently.
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