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BOE Stimulus Program Blamed for Lifting Inflation and Inequality
The UK government’s social mobility adviser along with a former Conservative minister added their voices to criticism of the Bank of England pandemic stimulus program, saying it widened the gap between the rich and the poor. Resham Kotecha, social mobility commissioner for the government and the head of policy for the Open Data Institute, said that the central bank’s policy and vast bond purchases was one of the drivers of asset inflation, worsening inequality. David Willetts, the president of the Resolution Foundation and an former adviser to the UK Treasury and prime minister’s office, echoed those views, ... (full story)