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?
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.