...widening inequality is a very long-term trend, one that has been decades in the making...the effects of monetary policy on inequality are almost certainly mo

...widening inequality is a very long-term trend, one that has been decades in the making...the effects of monetary policy on inequality are almost certainly modest and transient. This is totally self-serving historical revisionism. The Federal Reserve played a significant role in the Dot Com bubble, in the Housing Bubble, and in bailing out Too Big To Fail banks when there was a genuine chance for a much-needed reckoning. To think such a powerful "monetary policy" figure such as Greenspan or Bernanke would deny that their actions had anything but positive outcomes is utterly preposterous. Both did extensive damage to the middle-class, and Yellen is simply continuing the abhorrent tradition set by her predecessors.