Deep Dive Episode 170 – Engine of Inequality: The Fed and the Future of Wealth in America
In her landmark book, financial services doyenne Karen Petrou explains how, despite better intentions, Federal Reserve policies have been major drivers of economic inequality in America. Beginning with 2010 policies that widened the wealth gap, the Fed more than doubled down on its errors in 2020. Petrou, however, proposes a program of politically plausible changes in Fed policies to promote greater financial equality, economic growth, and financial stability, without requiring changes in legislation. In this live podcast, former Treasury Assistant Secretary Wayne Abernathy engages in a frank discussion with Petrou about her new book, the problems she identifies in Fed policies, and how she sees her proposals rising above partisanship to achieve the goals she sets out.
Former Assistant Secretary for Financial Institutions
U.S. Department of the Treasury
Federal Financial Analytics, Inc.
Federalist Society’s Financial Services & E-Commerce Practice Group