Initially, QE contributed to a pretty significant increase in inequality. It raised asset prices, which are owned primarily by the wealthy, while having relatively small if any positive impacts on bank lending, employment, wages or economic growth, so ordinary people… — Gerald Epstein Copy Share Image
The Fed has a lot of power in the economy because it has a big impact on the supply and cost of credit, that is, interest rates. It also plays a key role in supervising banks and historically has seemed… — Gerald Epstein Copy Share Image
Many of those on the right distrust the Fed and want to eliminate its power in the belief that the private economy, including the… — Gerald Epstein Copy Share
QE and other aspects of Fed policy increased inequality pretty significantly. This is reinforced if you take into account all the other non-standard measures… — Gerald Epstein Copy Share
The Fed cannot reduce inequality on its own; far from it. This requires a concerted effort by the government, broadly speaking, to support a… — Gerald Epstein Copy Share
Raising interest rates might lead to some initial reductions in wealth by lowering asset prices, but it could also take a bite out of… — Gerald Epstein Copy Share
What does remembering ourselves mean? It essentially means coming back to life- re-membering. — Gerald Epstein Copy Share
Most progressive critics don't want to destroy the power of the Fed to regulate the macroeconomy and finance. They want to regain control over… — Gerald Epstein Copy Share
There is no doubt that the Fed's large-scale asset purchases have caused major increases in a number of asset prices in the economy. This… — Gerald Epstein Copy Share
Initially, QE contributed to a pretty significant increase in inequality. It raised asset prices, which are owned primarily by the wealthy, while having relatively… — Gerald Epstein Copy Share
The Fed has a lot of power in the economy because it has a big impact on the supply and cost of credit, that… — Gerald Epstein Copy Share
The Fed needs to adopt new tools, on its own and perhaps in cooperation with the other parts of the US government, to improve… — Gerald Epstein Copy Share
The impact of QE on generating more lending by Wall Street to Main Street and in generating more employment and increasing overall investment in… — Gerald Epstein Copy Share
The right wants to destroy the power of the Fed to increase the power of finance; and the progressives want to reorient the Fed… — Gerald Epstein Copy Share
Increases in interest rates normally worsen inequality, at least partly by reducing employment and wage growth. — Gerald Epstein Copy Share
Here's the interesting thing: the fact that QE and lowering interest rates almost to zero has worsened inequality, does not mean that raising interest… — Gerald Epstein Copy Share
