Published July 12, 2021 at 6:43 PM CDT
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TUESDAY on The Source After the 2008 financial crash, the Federal Reserve began an unprecedented, epic economic experiment that dramatically reshaped the American economy.
The central bank began creating new money and injecting it into the financial system, buying up bank assets in hopes it would stimulate economic growth.
During COVID-19, the Fed doubled down on its experimental moves, pushing billions of dollars into the financial system every day and even buying up corporate debt.
A new FRONTLINE film asks: Who is benefiting from the Fed s actions and their impact on the economy? Will its policies be remembered for helping the country avoid an economic crisis or for fueling wealth inequality? Did it simply make the rich richer?
Streaming at 7/6c at pbs.org/frontline & in the PBS Video App
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When COVID-19 struck, the Federal Reserve stepped in to avert economic crisis. As the country’s central bank continues to pump billions of dollars into the financial system daily, building on an unprecedented strategy it began after the 2008 crash, 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 premiering Tuesday, July 13, on PBS (check local listings).
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A months-long investigation into Wisconsin’s broken unemployment system earned TMJ4 News a 2021 Walter Cronkite Award, a national award from the USC Annenberg Norman Lear Center. The award honors journalism that seeks truth, examines inequities, serves the public and demonstrates the indispensability of a free and trustworthy press.
“In his time, Walter Cronkite had the courage to report the reality of the Vietnam War to the American people,” said Annenberg professor Marty Kaplan, director of the school’s Norman Lear Center, which administers the award. “In our time, these Cronkite Award winners have the courage to report that reality really exists.”
Jeff Bezos to Step Down as Amazon CEO; Andy Jassy Moves Up
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February 2, 2021
Nearly three decades after he founded Amazon, Jeff Bezos will step down from his role as the commercial juggernaut’s chief executive and “transition to the role of Executive Chair,” the company announced on Feb. 2.
“Right now I see Amazon at its most inventive ever, making it an optimal time for this transition,” Bezos said in a statement. In a message to employees published by the company, Bezos said his new role would involve a focus on “new products and early initiatives.”
“I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin,