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Why the Fed Keeps Denying Its Role in Increasing Inequality

Why the Fed Keeps Denying Its Role in Increasing Inequality

FromThe Breakdown


Why the Fed Keeps Denying Its Role in Increasing Inequality

FromThe Breakdown

ratings:
Length:
27 minutes
Released:
Jun 12, 2020
Format:
Podcast episode

Description

Today on the Brief: Three Arrows holds more than 6% of Grayscale Bitcoin Trust New platform for censorship-resistant blogging Coinbase announces new token potentials as anti-surveillance hodlers flood out  Today’s main topic: Why the Fed keeps denying its role in inequality  Some key takeaways from yesterday’s Federal Open Markets Committee meeting: Interest rates are likely to stay near zero through 2022 Unemployment anticipated to average between 9% and 10% during last three months of 2020 Economy expected to contract 4% to 10% this year No specific discussion of yield curve control Inflation expected to be 1.0% this year and 1.5% in 2021, lower than Fed target of 2% According to Chairman Powell, inequality has nothing to do with Fed policy On this episode, NLW recaps the above and dives deeper on two of the points: Net inflation stats gloss over specifics, including food prices that have been rising at an annual rate of 17.5% The Fed’s pronounced role in exacerbating inequality by propping up artificially high asset prices, effectively locking low and middle income households out of the mechanism for economic advancement 
Released:
Jun 12, 2020
Format:
Podcast episode

Titles in the series (100)

A daily analysis of macroeconomics, bitcoin, geopolitics and big picture power shifts, hosted by Nathaniel Whittemore @nlw. The Breakdown is part of The Breakdown Network.