“No flow, no go.” That may be the simplest way to describe the critical role of central banks to the flow of credit and money into any monetary system. It was the lack of access to cash and bank liquidity that humbled Greece, Detroit and others. Ellen speaks with Dr. Timothy Canova, one of the foremost experts on our central bank, the Federal Reserve, about why their operation of our cash spigot determines who wins and who loses. Co-host Walt McRee speaks with Gwen Hallsmith about a newly published handbook focusing on new ways to invest in local economies and Matt Stannard reviews the Fed from a visionary point of view – what could be accomplished if the Fed worked for the public interest?
August 24, 2015