Lawrence R. Jacobs is Walter F. and Joan Mondale Chair for Political Studies at the Humphrey School for Public Affairs, the University of Minnesota, and co-author of both Health Care Reform and American Politics (Oxford) and Class War? (Chicago). The US Federal Reserve is one of the most powerful institutions in the world, unfettered by institutional or political checks.  Captive to the finance industry, it has become a source of inequality and financial uncertainty. Professor Jacobs describe how this came to be and how a true central bank could be organized and regulated, as presented in Fed Power: How Finance Wins, a book he co-authored with Desmond King.