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Powell Leaves Inequality Issues For Elected Representatives

FED

Q: Re inequality and distributional issues in the economy, how can Fed address?

A: We don't really have the tools to address those. The we have interest rates and bank supervision and financial stability policy and things like that, but we can't get at those things through our tools. When we lower the federal funds rate, that supports the economy across a broad range of people and activities but we don't have the ability to target particular groups.

Notwithstanding that, we do talk about it because these are important features of our economy and I think those distributional issues are issues that are really for our elected officials. And I would say, I take them seriously as holding back our economy. Ultimately, these are issues for elected representatives.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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