Central bank policies have enriched the wealthy – bold politicians must start redistributing wealth
But talk is cheap. Is there any evidence that a concern for inequality has influenced policy? Indeed, is there any evidence that monetary policy can be used to moderate or reverse growing inequality?. He argued at the end of last month: “There is a lot that monetary policy can do to foster a more equitable distribution over business cycles.” Part of the argument is traditional, drawn from the textbook of central banking 101.
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