Remarks
Karen Petrou Says Higher Rates ‘Should Be Resolutely Pursued’
In a new book, the banking consultant argues that the Fed is the ‘engine of inequality’
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Banking consultant Karen Petrou is right that Federal Reserve policies have helped the rich. It’s not so clear, though, that reversing those policies would help the poor.
The Fed’s marble headquarters appears under a foreboding sky on the cover of Petrou’s book, Engine of Inequality: The Fed and the Future of Wealth in America. She repeatedly argues that the Fed has worsened inequality by pushing down interest rates. Here’s an early passage: