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This is the tweet that @SteveMatthews12 highlights Fed’s commitment to talking ab inequality in a different way.
I will start with my one of my first experiences briefing the @federalreserve board. I was on a task force in Chicago. There was a revelation about the loyalty and productivity of former welfare recipients. They outperformed union workers when given targeted support.
They were such a threat to the rank and file workers that their jobs were eliminated when it came to the next round of union negotiations. It was a very sad situation and hit poor black people in Chicago particularly hard.
Lets talk about how important it is to frequently #Review #CentralBank #MonetaryPolicy #Frameworks...
I will set things off by pointing out that the various facets of #BusinessCycles (early, mid, late / boom & busts) consistently keep reminding us that what goes up, must come down. We might find ourselves in a prolonged #expansion, but eventually it decelerates into a #recession
As part of #Macroeconomic management (counter cyclical), a #CentralBank's objective (through its #MonetaryPolicy) is to maintain #PriceStability & #FinancialStability & in other cases, to promote #FullEmployment. It does this hand in hand with #FiscalPolicy...
