The Fed Is Powerful, Except in Fighting Wealth Inequality. The Covid-19 crisis showed the stark difference between how monetary and fiscal policy can lift the U.S. economy.

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The Fed Is Powerful, Except in Fighting Wealth Inequality. The Covid-19 crisis showed the stark difference between how monetary and fiscal policy can lift the U.S. economy.



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5 Comments
  1. Tiny_Rick_C137 says

    Jerome Powell actually deserves an incredible amount of praise for his role in helping stave off near complete economic collapse this year; in top of that, he has been continuous in his push for Congress to equitably support the working class and unemployed.

    I know Fauci got a lot of deserved praise this year, but I think Jerome Powell has basically been our Batman this entire time.

  2. coolbern says
  3. Bumblewurth says

    If the Fed had the power to raise a VAT and issue a UBI, congress could focus on regulatory policy instead of using economic sabotage as a political tool.

  4. freebog says

    The Fed is finished!

  5. Pjoo says

    Fed policy is keeping the inflation very low, which benefits the lender-class at expense of the debtor class. Changing this would help with wealth inequality. It’s not lack of tools, it’s just the politics to not employ them.

    The article might be correct in that inequality is best addressed by elected officials. But the Fed is far from toothless on the matter.

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