>The Fed explicitly justifies QE and the rest of their monetary insanity on the basis of the “wealth effect”.
They do?? Do you have a source for this?
They do?? Do you have a source for this?
It’s quite incredible that the Left have not made the connection between the Fed openly aiming to increase wealth inequality (which is what this is) while also keeping a watchful eye out for any wage inflation (which is the only way the common person can keep up).
https://digitalcommons.trinity.edu/econ_faculty/31/
Search for Bernanke wealth effect or any variation you like. The BIS and other central banks talk about it openly as well.
The central banks are the biggest engines of wealth inequality in the world, and it’s all done in the open with barely any pushback.
Also, the stimulus checks are also a "wealth effect" mechanism, but no one would confuse that for "trickle down".
The title makes a false comparison.
Also, the stimulus checks are a fiscal measure and have absolutely nothing to do with the wealth effect induced by loose monetary policy.