From Matt Taibbi's interview with Christopher Leonard [1]:
"But the 1% of Americans who own 40% of all the assets just get tremendous gains before that first job is created for the middle class. And so these policies dramatically widen wealth inequality, they’ve just wrenched this gap between the very rich and everybody else, which is the defining economic dysfunction of our time.
To get back to your point, nobody thinks about that when they think about the Fed, because the Fed presents everything it does in this really clinical, hyper-technical language that obscures what they’re doing and obscures this facet of it. Part of that is from how dysfunctional the media conversation around this stuff is, and that’s what I was trying to get across in that scene with the Glenn Beck monologue."
"But the 1% of Americans who own 40% of all the assets just get tremendous gains before that first job is created for the middle class. And so these policies dramatically widen wealth inequality, they’ve just wrenched this gap between the very rich and everybody else, which is the defining economic dysfunction of our time.
To get back to your point, nobody thinks about that when they think about the Fed, because the Fed presents everything it does in this really clinical, hyper-technical language that obscures what they’re doing and obscures this facet of it. Part of that is from how dysfunctional the media conversation around this stuff is, and that’s what I was trying to get across in that scene with the Glenn Beck monologue."
[1] https://taibbi.substack.com/p/interview-christopher-leonard-...