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Engine of Inequality, by Karen Petrou

The first book to reveal how the Federal Reserve holds the key to making us more economically equal, written by an author with unparalleled expertise in the real world of financial policy.

Following the 2008 financial crisis, the Federal Reserve’s monetary policy placed much greater focus on stabilizing the market than on helping struggling Americans. As a result, the richest Americans got a lot richer while the middle class shrank and economic and wealth inequality skyrocketed. In Engine of Inequality, Karen Petrou offers pragmatic solutions for creating more inclusive monetary policy and equality-enhancing financial regulation as quickly and painlessly as possible.

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“Petrou’s book uncovers a hidden engine of our skyrocketing inequality: financial-policy. In an accessible and engaging prose, Petrou takes us through the inner workings of monetary policy at the Fed and financial regulations, how they’ve made inequality worse and how they could instead be retooled to take us to a more equitable future. A novel look at the problem of inequality and bold ideas to help resolve it. A must read.”—Emmanuel Saez, Professor of Economics at the University of California Berkeley and author of The Triumph of Injustice

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Federal Financial Analytics (FedFin) is a Washington-based financial services-consulting firm that has for decades attracted a high-powered clientele in Washington, on Wall Street, and among global central bankers. Since 1985 FedFin has provided a unique blend of analysis and strategic advice on public policy, regulatory, and legislative issues for industry and governmental clients doing business in the U.S. and abroad.

A proprietary think-tank for its clients, FedFin reviews critical federal and global policy developments in banking, insurance, asset management, and mortgage finance, analyzes them in great depth, and then advises clients on whether what they want can be made to work for them, within the policy environment and for the financial system. It is FedFin’s guiding principle to be an honest broker, and clients depend on the fact that the firm does not offer lobbying or any other services that could compromise its objectivity and independence.

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American Banker, Thursday, October 14, 2021

October 14th, 2021|

Sidelining of Quarles complicates Fed's policymaking By Brendan Pedersen and Hannah Lang WASHINGTON — With Gov. Randal Quarles no longer serving as the Federal Reserve Board's head of bank supervision, regulatory matters have been effectively sidelined until the Biden administration fills key leadership posts at the central bank, experts say.  [...]

New York Times DealBook, Wednesday, October 6, 2021

October 6th, 2021|

Jerome Powell's Future Critics build their case against Powell By Andrew Ross Sorkin, Jason Karaian, Sarah Kessler, Stephen Gandel, Lauren Hirsch, Ephrat Livni and Anna Schaverien Jay Powell, the Fed chair, has been praised for how he used the central bank’s powers to steer the economy through the pandemic. His [...]

Financial Times, Wednesday, October 6, 2021

October 6th, 2021|

Covid revealed what science can do when funding is found By Gillian Tett When Covid-19 hit America in the spring of 2020, Jean Bennett, a professor of biomedicine at the University of Pennsylvania, started killing her prized collection of research mice. One reason was that the lockdown partly shuttered laboratories. [...]

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Economic Equality Blog

Economic Equality Blog is aimed at showing central banks and financial regulators how to put their formidable thumbs on the equality scale in favor of those whose income and wealth suffer so much in the wake of the great financial crisis.

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FedFin on: Global Systemic-Risk Standards for Stablecoin Arrangements

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October 12th, 2021|Categories: The Vault|
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