Nomi Prins Explains That $7 Trillion the Fed Magically Created

Literary Hub, Released on 10/14/20

With a long history writing about Wall Street and the economy, Nomi talks about her decision to return to finish her PhD during quarantine. Then, their conversation turns to what has been happening in the national and global economy as a result of the pandemic. Nomi contextualizes the current financial situation with a brief history of the Federal Reserve. She explains to Paul what actions the Federal Reserve has taken in the past few months and how those choices ripple out across the globe. Nomi recounts her recent trip to the Hoover Dam, holding it up as an example of a project undertaken in a moment of financial crisis that benefited the country and the planet.

Nomi Prins is an American author, journalist, and Senior Fellow at Demos. She has worked as a managing director at Goldman-Sachs and as a Senior Managing Director at Bear Stearns, as well as having worked as a senior strategist at Lehman Brothers and analyst at the Chase Manhattan Bank. Prins is known for her books All the Presidents’ Bankers: The Hidden Alliances that Drive American Power and Collusion: How Central Bankers Rigged the World.