It’s probably safe to say that most central bankers aren’t particularly enamored with the idea that post-crisis monetary policy has contributed to rising income inequality.
Take Ben Bernanke for instance, who took a few moments away from advising Citadel and PIMCO last year to throw on his blogger Ben hat and explain why he and his ‘courage’ aren’t responsible for the widening gap between the rich and the poor.
‘First, widening inequality is a very long-term trend, one that has been decades in the making,’ he explained. ‘The degree of inequality we see today is primarily the result of deep structural changes in our economy that have taken place over many years, [and by] comparison, the effects of monetary policy on inequality are almost certainly modest and transient,” he added.
This post was published at Zero Hedge on 03/06/2016.
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