---
title: "2 Big impact Quotes By Gerald Epstein"
description: "2 Big impact quotes by Gerald Epstein. Plus more from Gerald Epstein and more Big impact sayings from other authors."
image: "https://sms4smile.com/quotes/i/4a6/gerald-epstein-28513_assets_initially-qe-contributed-to-a-pretty-sig_1892976.png"
---

> [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…](https://sms4smile.com/quotes/gerald-epstein/initially-qe-contributed-to-a-pretty-significant-increase-in/)

[Gerald Epstein](https://sms4smile.com/quotes/author/gerald-epstein/)

[Image](https://sms4smile.com/quotes/i/4a6/gerald-epstein-28513_assets_initially-qe-contributed-to-a-pretty-sig_1892976.png)

> [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…](https://sms4smile.com/quotes/gerald-epstein/the-fed-has-a-lot-of-power-in-the-economy-because-it-has-a-big-impact/)

[Gerald Epstein](https://sms4smile.com/quotes/author/gerald-epstein/)

[Image](https://sms4smile.com/quotes/i/a90/gerald-epstein-28513_big-impact_the-fed-has-a-lot-of-power-in-the-econom_1944432.jpg)

## More by Gerald Epstein

> [Many of those on the right distrust the Fed and want to eliminate its power in the belief that the private economy, including the…](https://sms4smile.com/quotes/gerald-epstein/many-of-those-on-the-right-distrust-the-fed-and-want-to-eliminate-its/)

[Gerald Epstein](https://sms4smile.com/quotes/author/gerald-epstein/)

> [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…](https://sms4smile.com/quotes/gerald-epstein/qe-and-other-aspects-of-fed-policy-increased-inequality-pretty/)

[Gerald Epstein](https://sms4smile.com/quotes/author/gerald-epstein/)

> [The Fed cannot reduce inequality on its own; far from it. This requires a concerted effort by the government, broadly speaking, to support a…](https://sms4smile.com/quotes/gerald-epstein/the-fed-cannot-reduce-inequality-on-its-own-far-from-it-this-requires/)

[Gerald Epstein](https://sms4smile.com/quotes/author/gerald-epstein/)

> [Raising interest rates might lead to some initial reductions in wealth by lowering asset prices, but it could also take a bite out of…](https://sms4smile.com/quotes/gerald-epstein/raising-interest-rates-might-lead-to-some-initial-reductions-in/)

[Gerald Epstein](https://sms4smile.com/quotes/author/gerald-epstein/)

> [Pain is a message asking for our help.](https://sms4smile.com/quotes/gerald-epstein/pain-is-a-message-asking-for-our-help/)

[Gerald Epstein](https://sms4smile.com/quotes/author/gerald-epstein/)

> [What does remembering ourselves mean? It essentially means coming back to life- re-membering.](https://sms4smile.com/quotes/gerald-epstein/what-does-remembering-ourselves-mean-it-essentially-means-coming-back/)

[Gerald Epstein](https://sms4smile.com/quotes/author/gerald-epstein/)

> [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…](https://sms4smile.com/quotes/gerald-epstein/most-progressive-critics-don-t-want-to-destroy-the-power-of-the-fed/)

[Gerald Epstein](https://sms4smile.com/quotes/author/gerald-epstein/)

> [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…](https://sms4smile.com/quotes/gerald-epstein/there-is-no-doubt-that-the-fed-s-large-scale-asset-purchases-have/)

[Gerald Epstein](https://sms4smile.com/quotes/author/gerald-epstein/)

> [Initially, QE contributed to a pretty significant increase in inequality. It raised asset prices, which are owned primarily by the wealthy, while having relatively…](https://sms4smile.com/quotes/gerald-epstein/initially-qe-contributed-to-a-pretty-significant-increase-in/)

[Gerald Epstein](https://sms4smile.com/quotes/author/gerald-epstein/)

> [The Fed has a lot of power in the economy because it has a big impact on the supply and cost of credit, that…](https://sms4smile.com/quotes/gerald-epstein/the-fed-has-a-lot-of-power-in-the-economy-because-it-has-a-big-impact/)

[Gerald Epstein](https://sms4smile.com/quotes/author/gerald-epstein/)

> [The Fed needs to adopt new tools, on its own and perhaps in cooperation with the other parts of the US government, to improve…](https://sms4smile.com/quotes/gerald-epstein/the-fed-needs-to-adopt-new-tools-on-its-own-and-perhaps-in/)

[Gerald Epstein](https://sms4smile.com/quotes/author/gerald-epstein/)

> [The impact of QE on generating more lending by Wall Street to Main Street and in generating more employment and increasing overall investment in…](https://sms4smile.com/quotes/gerald-epstein/the-impact-of-qe-on-generating-more-lending-by-wall-street-to-main/)

[Gerald Epstein](https://sms4smile.com/quotes/author/gerald-epstein/)

> [The right wants to destroy the power of the Fed to increase the power of finance; and the progressives want to reorient the Fed…](https://sms4smile.com/quotes/gerald-epstein/the-right-wants-to-destroy-the-power-of-the-fed-to-increase-the-power/)

[Gerald Epstein](https://sms4smile.com/quotes/author/gerald-epstein/)

> [Increases in interest rates normally worsen inequality, at least partly by reducing employment and wage growth.](https://sms4smile.com/quotes/gerald-epstein/increases-in-interest-rates-normally-worsen-inequality-at-least/)

[Gerald Epstein](https://sms4smile.com/quotes/author/gerald-epstein/)

> [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…](https://sms4smile.com/quotes/gerald-epstein/here-s-the-interesting-thing-the-fact-that-qe-and-lowering-interest/)

[Gerald Epstein](https://sms4smile.com/quotes/author/gerald-epstein/)

```json
{
    "@context": "https://schema.org",
    "@graph": [
        {
            "@type": "ItemList",
            "@id": "https://sms4smile.com/quotes/about/big-impact/gerald-epstein/#itemlist",
            "name": "2 Big impact Quotes By Gerald Epstein",
            "numberOfItems": 2,
            "itemListElement": [
                {
                    "@type": "ListItem",
                    "position": 1,
                    "item": {
                        "@type": "Quotation",
                        "text": "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 haven't had much help. By the third round of QE in 2012-2014, the effects had likely muted quite a bit. There were probably not big impacts on asset prices from QE and the positive effects on employment growth might have strengthened somewhat.",
                        "creator": {
                            "@type": "Person",
                            "name": "Gerald Epstein"
                        },
                        "url": "https://sms4smile.com/quotes/gerald-epstein/initially-qe-contributed-to-a-pretty-significant-increase-in/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/4a6/gerald-epstein-28513_assets_initially-qe-contributed-to-a-pretty-sig_1892976.png",
                            "contentUrl": "https://sms4smile.com/quotes/i/4a6/gerald-epstein-28513_assets_initially-qe-contributed-to-a-pretty-sig_1892976.png",
                            "url": "https://sms4smile.com/quotes/i/4a6/gerald-epstein-28513_assets_initially-qe-contributed-to-a-pretty-sig_1892976.png",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“Initially, QE contributed to a pretty significant increase in inequality. It raised asset prices, which are…” — Gerald Epstein",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                },
                {
                    "@type": "ListItem",
                    "position": 2,
                    "item": {
                        "@type": "Quotation",
                        "text": "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 to take it easy on the banks when it shouldn't have, such as in the lead up to the financial crisis.",
                        "creator": {
                            "@type": "Person",
                            "name": "Gerald Epstein"
                        },
                        "url": "https://sms4smile.com/quotes/gerald-epstein/the-fed-has-a-lot-of-power-in-the-economy-because-it-has-a-big-impact/",
                        "image": {
                            "@type": "ImageObject",
                            "@id": "https://sms4smile.com/quotes/i/a90/gerald-epstein-28513_big-impact_the-fed-has-a-lot-of-power-in-the-econom_1944432.jpg",
                            "contentUrl": "https://sms4smile.com/quotes/i/a90/gerald-epstein-28513_big-impact_the-fed-has-a-lot-of-power-in-the-econom_1944432.jpg",
                            "url": "https://sms4smile.com/quotes/i/a90/gerald-epstein-28513_big-impact_the-fed-has-a-lot-of-power-in-the-econom_1944432.jpg",
                            "width": 1080,
                            "height": 1080,
                            "caption": "“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",
                            "creditText": "SMS4Smile Quotes",
                            "creator": {
                                "@id": "https://sms4smile.com/quotes/#organization"
                            }
                        }
                    }
                }
            ]
        },
        {
            "@type": "CollectionPage",
            "@id": "https://sms4smile.com/quotes/about/big-impact/gerald-epstein/#webpage",
            "url": "https://sms4smile.com/quotes/about/big-impact/gerald-epstein/",
            "name": "Big impact Quotes by Gerald Epstein",
            "isPartOf": {
                "@id": "https://sms4smile.com/quotes/#website"
            },
            "mainEntity": {
                "@id": "https://sms4smile.com/quotes/about/big-impact/gerald-epstein/#itemlist"
            },
            "primaryImageOfPage": {
                "@id": "https://sms4smile.com/quotes/i/4a6/gerald-epstein-28513_assets_initially-qe-contributed-to-a-pretty-sig_1892976.png"
            },
            "description": "2 Big impact quotes by Gerald Epstein. Plus more from Gerald Epstein and more Big impact sayings from other authors.",
            "breadcrumb": {
                "@id": "https://sms4smile.com/quotes/about/big-impact/gerald-epstein/#breadcrumb"
            }
        },
        {
            "@type": "BreadcrumbList",
            "@id": "https://sms4smile.com/quotes/about/big-impact/gerald-epstein/#breadcrumb",
            "itemListElement": [
                {
                    "@type": "ListItem",
                    "position": 1,
                    "name": "Home",
                    "item": "https://sms4smile.com/"
                },
                {
                    "@type": "ListItem",
                    "position": 2,
                    "name": "Quotes",
                    "item": "https://sms4smile.com/quotes/"
                },
                {
                    "@type": "ListItem",
                    "position": 3,
                    "name": "Topics",
                    "item": "https://sms4smile.com/quotes/categories/"
                },
                {
                    "@type": "ListItem",
                    "position": 4,
                    "name": "Big Impact",
                    "item": "https://sms4smile.com/quotes/about/big-impact/"
                },
                {
                    "@type": "ListItem",
                    "position": 5,
                    "name": "Gerald Epstein",
                    "item": "https://sms4smile.com/quotes/about/big-impact/gerald-epstein/"
                }
            ]
        },
        {
            "@type": "WebSite",
            "@id": "https://sms4smile.com/quotes/#website",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "publisher": {
                "@id": "https://sms4smile.com/quotes/#organization"
            }
        },
        {
            "@type": "Organization",
            "@id": "https://sms4smile.com/quotes/#organization",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "logo": {
                "@type": "ImageObject",
                "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png",
                "width": 512,
                "height": 512
            }
        }
    ]
}
```