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Pretty misleading post from a clickbait title. The job of the fed isn't equality, it's to stop inflation and keep the economy stable. They did that reasonably w
by invalidname 2y ago
Pretty misleading post from a clickbait title. The job of the fed isn't equality, it's to stop inflation and keep the economy stable. They did that reasonably well with the cards they were dealt. The elected government *should* tax these people/corporations and help even out the situation where the rich get richer and the poor get poorer. There are many policies to do that and most countries have them.
But then roughly the same "anti-fed" crowd claims that this is regulation and shouldn't exist.
- seanhunter 2y agoYes indeed. It's also clickbait because just because banks benefitted from a particular interest rate regime doesn't mean the average person would have been better off had that not been the case. It's much much much more complex than the author of TFA (or lots of popular finance stuff out there) would have you believe.
- IncreasePosts 2y agoIf the money really was "taken", I'd like to know the actual distribution of harmed parties, because it wasn't just a blanket taking of $3k from each person clearly. Was it the poorest Americans? The almost but not quite rich?
- tocs3 2y agoThe low interest payed by banks hurt those that have cash to save and need to put it into some sort of savings account (short to medium term interest bearing account). If you have cash sitting in a bank account now it would pay to look at rates. There are some ok deals out there but you do not get the higher rates by accident.
- OutOfHere 2y agoThe job of the Fed is also to regulate banks. If the big banks are charging disproportionately more in interest, it's the Fed's job to regulate it, which they failed to do as per their bank regulation mandate.