Engine of Inequality

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This insightful exploration reveals how the Federal Reserve can drive economic equality, authored by a leading expert in financial policy. Following the 2008 financial crisis, the Fed prioritized market stabilization over aiding struggling Americans, resulting in a widening wealth gap where the richest thrived while the middle class diminished. The author presents pragmatic solutions for more inclusive monetary policy and financial regulation that can be implemented swiftly and effectively. With deep knowledge of federal decision-making and the responses of major banks, the author offers feasible, high-impact policy fixes that can significantly alter the equality landscape without relying on unpassable legislation. The book outlines immediate strategies for addressing economic inequality, highlighting the severe extent of the issue in America regardless of hard work. It argues that rising inequality threatens long-term economic growth, political engagement, and personal well-being. The author explains the persistent low interest rates at banks, despite the wealth accumulation of the rich, and warns of the risks posed by FinTech and BigTech encroaching on traditional banking. It also addresses the shared responsibility of the Fed, regulators, Congress, and economists in perpetuating inequality. This compelling work is essential reading for leaders, policymakers, and all Americans committed to ensuring financial policy promotes