Has Fed policy made inequality worse?: What effect did Federal Reserve policy during the Great Recession have on inequality? Did quantitative easing and the Fed’s low interest rate policy benefit those at the top of the income distribution the most?
Many people seem to be convinced that is the case. According to this view, the Fed has been captured by the interests of wealthy bankers and its policies therefore benefit this group the most. But what does the evidence actually say about this question? Are Ron Paul and the Austrian economists, among many others on both sides of the political fence, correct to claim that loosening monetary policy to combat recessions makes inequality worse? ...
[The editors changed the intro, this is the original.]