2 ms·
Goosing asset prices which are only owned by the richest 55% of Americans, and almost entirely by the top 1%, in order to benefit the lower and middle classes i
by 01100011 5y ago
Goosing asset prices which are only owned by the richest 55% of Americans, and almost entirely by the top 1%, in order to benefit the lower and middle classes is the same old trickle down economics which had led us to the massive wealth gap we have today.
The solution is to let asset bubbles deflate and do more targeted fiscal stimulus, less monetary stimulus, and use tax policy, not artificially low rate government borrowing, to pay for it. Our government is increasingly ineffective due to political divisions and ideological puritanism so I understand why the fed feels it needs to act but I feel like monetary policy is too broad of a brush that generally only benefits the moneyed elites.