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, 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.

MPR News Staff

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The U of M's Larry Jacobs argues that the Federal Reserve showed both its power and its flaws during the Great Recession and that it's time to turn it into a stronger central bank to help weather the next crisis.

In a new book about the controversial Federal Reserve, University of Minnesota political scientist Larry Jacobs argues that the Fed needs to be stronger in order to handle the next financial crisis. He talked to MPR News host Kerri Miller about the book he co-authored, "Fed Power: How Finance Wins." 4/12/16

Op-ed: It's time to reform a damaged Fed

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