Economics
Fed Officials Test New Argument for Tightening: Protect the Poor
- Discussion puts Fed in spotlight as inequality debate widens
- Recent studies find contractionary policy often is regressive
BlackRock, Vanguard See Gradual Fed Balance Sheet Unwind
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To protect the poorest Americans, should central bankers raise interest rates faster?
At least one of them is making that argument. During a speech last month, Federal Reserve Bank of Kansas City President Esther George said she was “not as enthusiastic or encouraged as some when I see inflation moving higher” because “inflation is a tax and those least able to afford it generally suffer the most.”