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The Fed Increasingly Turns its Attention to Inequality
Matthew Boesler at Bloomberg brings us this: Policy makers have acknowledged getting labor markets wrong in the recent past, and say they’ve learned from community outreach this year that many Americans haven’t felt the benefits of the economy’s long expansion. All this rethinking has bolstered the case for keeping rates low at times when prices aren’t rising much — like the past quarter-century or so. And if the new ideas take hold, America’s next economic upswing may be overseen by a Fed that’s less inclined to raise rates in response. This is an important development that has gained substantial ... (full story)