Behind the Bank Failures

March 31, 2023

In the aftermath of the second and third-largest bank failures in U.S. history, correspondent James Jacoby joins the FRONTLINE Dispatch to talk about Age of Easy Money, a documentary examining the power of the Federal Reserve and our current economic uncertainty. 

The film draws on over two years of reporting on the Fed’s so-called “easy money” policies, with Jacoby and team charting the start of the Fed’s economic experiment after the 2008 financial crisis and again during COVID; the Fed’s decision to start raising interest rates in 2022; and what’s happened since — including recession fears, bank market disruptions, and concerns that the fight against inflation will trigger unemployment.

“In some ways there’s been this kind of gravitational force at work, this invisible force, and people weren’t able to necessarily recognize it,” Jacoby told host Raney Aronson-Rath. “At the root of it is what the Fed has been doing.” 

Age of Easy Money is now streaming on FRONTLINE’s website, the PBS Video App, and FRONTLINE’s YouTube channel

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