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Quote by Gerald Epstein

“Increases in interest rates normally worsen inequality, at least partly by reducing employment and wage growth.”

Quote by Gerald Epstein

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Gerald Epstein
Gerald Epstein

Gerald Epstein, born on November 6, 1935, is an accomplished author known for his diverse literary works and profound insights. His writing is characterized by its depth of emotion and imagination. more

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“The Fed needs to adopt new tools, on its own and perhaps in cooperation with the other parts of the US government, to improve the economy from the bottom up. This includes increasing facilities for debt forgiveness for under-water mortgages and excessive student loans; increased credit facilities for small businesses and cooperatives; helping to underwrite mechanisms for creating affordable housing in cities; and more restrictive enforcement of financial regulatory rules to help rein in excessive banker risk and pay.”

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Author:Gerald Epstein
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“The Fed cannot reduce inequality on its own; far from it. This requires a concerted effort by the government, broadly speaking, to support a variety of efforts. These include things like raising the federal minimum wage, eliminating unfair restrictions on union organizing, increased fiscal spending on needed infrastructure with a condition that these jobs will be decent paying jobs. Of course, this is just the tip of the iceberg, and far from the question of the role of the Federal Reserve.”

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Author:Gerald Epstein
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