The Fed’s addiction to cheap money benefits Wall Street while fueling inequality
Since the Great Financial Crisis of 2008, the US Federal Reserve and other Central Banks have kept interest rates low, with the stated purpose of promoting economic recovery. But, writes, David W. Wise, rather than boosting the real economy, these low interest rate policies have artificially inflated financial markets and driven inequality through soaring asset prices.
The job of the Federal Reserve is to take away the punch […]