Fed Has An Obligation To Fix Inequality: Petrou

The video discusses the increasing wealth and income disparities in the US since the 1980s, highlighting the role of the Federal Reserve's policies in exacerbating inequality. Karen Petrou, author of 'Engine Of Inequality,' argues that the Fed's focus on inclusive growth is a step forward, but more needs to be done. The Fed's mandates, including full employment, price stability, and moderate interest rates, are examined. The discussion also covers the shift from a manufacturing to a financial economy and the challenges of reversing financialization. Petrou emphasizes the Fed's obligation to address inequality, suggesting that fiscal policy can aid in this effort.

What does Karen Petrou mean by 'inclusive growth' in the context of Federal Reserve policy?

What impact does the author suggest the Federal Reserve's policy has had on income and wealth inequality in the United States?

What statistics does Karen Petrou mention in her book to support her argument about inequality?

According to Karen Petrou, what are the three mandates of the Federal Reserve as per the statutes governing it?

How does the author describe the changes in the U.S. economy from a manufacturing economy to a financialized economy?

What are the potential consequences if the Federal Reserve does not address the current economic inequality?

What role does the author believe fiscal policy plays in addressing inequality?