But the level of inequality has been reduced. Obviously the people at the very top are still going to be very rich. But there is an entire spectrum of wealth th

But the level of inequality has been reduced. Obviously the people at the very top are still going to be very rich. But there is an entire spectrum of wealth that is going to get compressed, which was the original point. When people talk about "inequality increasing" over the past several decades, what they mean is the opposite of that spectrum compressing. In 1980 there were obviously very rich people. They were just less rich, relative to the median person than they are today. The Fed is responsible for a significant chunk of that divergence. That was the point.