Chrystia discusses the Fed’s recent decision to launch a new round of quantitative easing on the PBS NewsHour:
You can read the transcript here.
Posted by Peter Rudegeair.
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On the NewsHour, Freeland said: “And I think the problem is, when the Fed acts as it does, printing more money, it’s a rich-get-richer phenomenon. This is going to be great for the banks. It’s going to be great for people whose personal finances are strong enough that they can re-mortgage — refinance their mortgages. But it’s not so great for the people who are in trouble.”
Freeland hit the nail on the head: Bernanke’s $600 billion largesse is yet another gift to the wealthy.