The Federal Reserve and the architecture of our monetary system use private capital and financial marketeers as primary channels for getting money into our economy, while keeping the public off key fiscal playing fields. A new federal-level legislative initiative called the Public Banking Act represents a systemic breakthrough for the role of public interest financial institutions, providing access to the many monetary benefits that could give critical help to citizens, cities and states. Our guest David Jette helped advise the two prominent Congresswomen who sponsored this important legislation. We take a close look at how and why this could be a pivotal moment for the creation of public banks nationally.
